VC and PE? 5%. But add to that exposure to the publicly listed tech sector, for aggressive funds, that could be as high as 20%. Then there are secondary effects like a downturn in Bay area real estate.

PE is going to have completely different dynamics as far as industry allocations. I would love to see an example of a pension fund with a 20% allocation to tech. And if you're talking about a federal bailout, this is likely going to be a public pension fund which makes it even more unlikely.