Valuations

EisnerAmper accepts censure but ducks penalties as SEC heralds the firm’s remedial efforts to clean up after the Infinity Q scandal.

GPs’ marks feed into faster NAV setting – and they are subject to legal obligations and distributors’ oversight.

Audit scrutiny, investor demands and new fund structures are forcing GPs to rethink how valuations are governed and delivered.

The A$200bn Australian retirement fund has appointed an executive in London to lead valuations of direct infrastructure and property investments.

While continuation vehicles may not always be the optimal solution for sponsors and LPs, other attractive liquidity solutions are gaining in popularity, writes Todd Miller, partner at W Capital Partners.

According to fresh research from Goldman Sachs, average distribution-to-paid-in multiples (DPI) for the 2019-22 vintage era is 80% lower than the equivalent 2007-14 vintage set.

Speaking at an event in Hong Kong on Wednesday, the firm's head of APAC private wealth said it is 'critical' that open-end funds are valued frequently enough to assist subscriptions and redemptions.

Expected lower interest rates, increased M&A and an improved opportunity set for exits are among reasons why valuations are predicted to begin recovering.

CFOs discussed the increased complexity – and investor scrutiny – of valuations processes in the new economic environment.

HIG filed a lawsuit earlier in the week, accusing Audax of misrepresenting the financial condition of Mobileum, in which the two mid-market firms co-invest.