In the assessment of secondary transactions, which risk is NOT usually considered?

The correct answer highlights that availability of new technology is typically not considered a primary risk in the assessment of secondary transactions. In the context of secondary transactions, which often involve the buying and selling of existing interests in private equity funds, specific financial, market, and operational risks are prioritized.

Market fluctuations are crucial in this assessment because they can significantly affect the valuation of the assets being transacted. Potential regulatory changes are also critical, as they can impact the market environment or operating conditions of the assets involved, leading to unforeseen liabilities or compliance costs. Unfunded commitments, while looking at the overall financial obligations of a fund, are indeed relevant as they represent the potential future capital that can be called upon, thereby influencing cash flow and liquidity.

In contrast, the availability of new technology may impact some sectors or companies' operational efficiencies and competitiveness, but it is considered a more indirect factor when evaluating the kind of investment risks present in secondary transactions. Therefore, the focus generally remains on more immediate financial and regulatory aspects within these assessments.