[{"id":"S1","name":"Baseline","description":"No shock.","params":{}},{"id":"S2","name":"2022-style drift","description":"Public equity −25%, bonds −15% over 3 months; private marks lag 2 quarters; no request spike.","params":{"public_dd":{"eq":-0.25,"fi":-0.15},"mark_lag":2}},{"id":"S3","name":"BCRED-style gate","description":"Other-investor requests 9% of NAV vs 5% cap for 4 consecutive quarters.","params":{"request_spike":0.09,"windows":4}},{"id":"S4","name":"Mass layoff","description":"30% of participants separate in one month; 60% roll over immediately.","params":{"layoff":0.3,"rollover":0.6}},{"id":"S5","name":"Retirement-date stale mark","description":"Private mark 12.5% above economic value at the oldest cohort's target date; catch-down over 4 quarters.","params":{"stale_mark":0.125,"catch_down_quarters":4}},{"id":"S6","name":"Australia 2020","description":"Unlisted marks cut 10% with a 2-quarter lag; 10% of participants switch to cash before the cut.","params":{"mark_cut":0.1,"lag_quarters":2,"switch_pct":0.1}},{"id":"S7","name":"Rate shock + PIK","description":"+200 bp: bonds −12%, high yield −8%; private-credit deferred losses per the PC CMA (default 8% realised after 18 months).","params":{"rate_shock":200}}]