Are Private Equity Investors Really That Poisonous?

Private equity funds are under fire for not taking larger markdowns on the rest of their holdings in the face of this year's steep drops in public stock prices. A few of the big firms who invested in FTX have written that investment down to zero and for most of them that investment was a small percentage of their overall portfolios. The economist describes investors in private equity funds as being like babies who love the game of peekaboo if they can't see their losses they don't believe that they exist. Are private equity investors really that foolish or do they understand that their investments are down but just like being told that they're up? So can private equity investors be compared to Odysseus