Despite the booming popularity and mainstream status that continuation vehicles and other GP‑led transactions have had with sponsors in recent years, the uptake among investors has been comparatively muted. In lieu of participating in complicated, hurried continuation vehicle transactions, the vast majority of investors have opted to simply sell their stakes. That is slowly changing, however, as investors bolster their relative sophistication and develop processes for accommodating the hastened time frames of the transactions. To that end, Morgan Lewis hosted a webinar featuring partners John D. Cleaver and Carrie J. Rief to guide investors on how to diligence continuation vehicles and make informed roll/sell elections. This second article in a two-part series details issues LPs should diligence when scrutinizing continuation vehicles, as well as the election options available to LPs. The first article described the increase in LP interest in rolling into continuation vehicles, the steps involved in the transaction process and factors LPs should weigh when evaluating roll opportunities. See our two-part series on multi‑asset, multi‑fund GP‑led transactions: “Traversing Potential Conflicts and LP Election Options” (Feb. 8, 2024); and “Ancillary Considerations and Regulatory Requirements to Weigh” (Feb. 22, 2024).