Maybe you could find a bunch of other funds with slightly different positions in the same companies, and then form a linear combination that cancelled out the differences.

I smell financial regulation. The secondary market is generally only available to accredited investors. If you're investing in a fund, that's one thing, but if a product is unwinding all of that to allow unsophisticated investors to essentially buy secondary stock in private companies, the SEC is going to have something to say about that.