The speed at which GPs have formalized their valuation policies and procedures – much of it in response to heightened scrutiny from regulators and investors – has been nothing short of remarkable. But where is this trend going next? That, it seems, is still up in the air. But to get a better sense of the direction of travel, we brought together a group of industry valuation specialists in New York to discuss issues like calibration, LPs’ role in the valuation process and exactly what’s required for a reliable valuation methodology.
Where a company is regarded as being resident is important in a number of fund structuring areas. It also makes a significant difference in terms of tax consequences, writes Duane Morris partner Jenny Wheater