Tuesday: Call that IPEV?

It’s Tuesday, so we are focusing on the nitty-gritty of the finance function. Dramatic events at Abraaj are throwing yet more attention on the business of valuations.

Abraaj: Valuation in the spotlight

Your valuation committee could be thrust into the spotlight. Yesterday we published highlights of US authorities’ 78-page indictment of six senior executives from Abraaj Group (including former CFO Ashish Dave). Prosecutors claim in the deposition Abraaj told limited partners and prospects that it valued its funds according to the IPEV guidelines, but “in truth and in fact, the Abraaj Leadership valued its positions however necessary to support its claims of success,” states the document. Increasing interest in this case – prosecutors allude to other defendants, including a US IR professional, as yet unnamed – will shine light on valuation processes. We’ll be bringing you more on this soon.

Talent trouble: US CFOs across all industries consider attracting and retaining talent to be their main concern, according to the regular survey conducted by Duke University’s Fuqua School of Business. The age of robotic process automation may be upon us, but human finance talent is still in demand.

Administrator M&A update: Netherlands-based Intertrust has acquired rival fund services business Viteos. Press release here.

Today’s email was prepared by Toby Mitchenall – toby.m@peimedia.com.