Valuation Services

Our valuation services team works with clients in the alternative investment industry, including LPs, GPs, and portfolio companies.

We provide valuations needed for fair value reporting, transactions and dispute support.  CFOs, Controllers, CEOs, Boards of Directors and investment professionals turn to us to help them not only comply with the latest fair value reporting requirements, but go well beyond that; to truly understand the strategic value of managing this process in a proactive manner, then digesting the outputs in an effort to create optimal Return on Investment.  Our services include:

• Portfolio Valuation
• GP and LP Equity Stakes Valuation
• Valuation Policy and Procedures

Portfolio Valuation

We provide valuation of illiquid securities across the entire capital structure:

• Common and preferred equity
• Debt securities including senior and subordinated, secured and unsecured, performing and distressed Loan pools
• Structured products including CLOs, CDOs, ABS, CMBS and RMBS
• Derivatives including options, warrants, convertible securities
• Tangible assets including specialized infrastructure projects, real estate, land and machinery

GP and LP Valuations

We have extensive experience in the valuation of GPs and LP interests through years of working with some of the world’s leading players in the alternative investment space. Our professionals have acted as valuation advisors for numerous valuations of GP and LP interests including:

GP Manager Valuations

• IPO Tax Structuring
• Basis for 1940 Act Test
• Valuation of carry-for-equity exchanges
• 83(b) filing in connection with share grants
• Valuation in connection with a restructuring
• Negotiations for non-hostile M&A transactions
• Admission of new partners
• Annual reporting of fair value for GP carry contributions to trusts

LP Interest Valuations

• Negotiations for secondary LP transactions
• Transfer of interest from wind-down to new fund
• Valuation of LP for tax reporting
• Reporting of fair value for LP interest

Valuation Policy and Procedures

As part of GPs’ efforts to prepare for SEC examinations and align their financial reporting to industry best practices, we offer valuation policy and procedures (VPP) services GPs, LPs or portfolio companies that face valuation challenges or are looking to improve their fair value reporting based on current standards and regulatory guidance:

VPP Diagnostic Assessment

We identify material VPP gaps relative to the latest industry and LP standards and provide actionable recommendations. Our assessments are based on extensive experience working with funds to develop “best in class” VPP documentation.

VPP Development and Remediation

We work alongside management either to develop a customized VPP document or to remediate material gaps in existing VPP documentation. 

We have provided our advice, experience and commitment to a wide range of clients in the Alternative Investment industry:

General Partners

• Private Equity Funds
• Hedge Funds
• Business Development Companies
• Asset Managers/Mutual Funds

Limited Partners

• Pension Funds
• Sovereign Wealth Funds
• Fund-of-Funds
• Corporations
• Endowments
• Endowments / Family Offices

Contact:

Michael Athanason | eVal Managing Director | New York | Tel: +1 (917) 669 8943 | mathanason@fts-us.com

Tony McNulty | eVal Managing Director | New York | Tel: +1 (203) 570 5359 | tmcnulty@fts-us.com

 Federico Jost | Senior Advisor | New York | Tel: +1 (917) 576 1825 |fjost@fts-us.com