Alternative Investments / Portfolio Valuations

Fund professionals engage Marshall & Stevens to provide Fairness Opinions, Solvency Opinions, and valuation analyses in support of financial and tax reporting, financing, and buy/sell consideration.

Marshall & Stevens provides independent third-party valuation advisory services to public and privately held enterprises and investors across the spectrum including business development companies (“BDCs”), private equity firms, hedge funds, etc.

A large of percentage of our senior Financial Valuation professionals have experience working at international audit firms – they did the same review work your audit firm valuation professionals do – so they are a great resource to our clients. Our specialists understand the materiality thresholds and respect the regulatory requirements.

Assurance Letters: Sometimes all that is required is a positive assurance or negative assurance letter.  Our professionals are prepared to provide these analyses or as required, upgrade to detailed valuation analyses and reports upon request.

Illiquid Investments: We provide independent opinions of the fair value of debt and equity instruments to assist clients in complying with the following guidance:  

  • Debt and Equity Securities: FASB ASC 320
  • Derivatives and Hedging: FASB ASC 815
  • Equity Compensation: FASB ASC 718, IFRS 2 and IRC 409A
  • Financial Services—Investment Companies: FASB ASC 946

Our goal is to meet your financial reporting requirements for a reasonable fee.

Complex Securities The valuation of some illiquid investments necessitates our use of complex financial modeling techniques including Black-Scholes Option Pricing Model, Binomial Lattice, and Monte Carlo Simulation.

Real Estate: Our Real Estate Valuation professionals provide independent value opinions of a great variety of properties for public and private real estate fund clients. These clients engage us to provide independent value opinions for financial reporting, buy/sell/lease consideration, recapitalization, insurance placement, cost segregation, property tax and other tax reporting requirements.

Wealth Transfer: We value carried interests in funds, both prior to investment and post investment, as part of a wealth transfer strategy for the benefit of heirs and charities.

Purchase Price Allocations: Our Financial, Equipment, and Real Estate valuation professionals collaborate on multidisciplinary financial reporting assignments for an efficient well-integrated product and an easier review process for the investor and their audit firm.

Transaction Advisory Services: Independence and Expertise at a Reasonable Cost.  Our fees are not contingent upon the successful closing of any transaction, as opposed to the fees paid to your investment bank, and we do not have audit conflicts since we do not provide audit services. 

  • Fairness Opinions:  We analyze the fairness of a particular transaction, from a financial point of view, to the shareholders on either side (purchase or sale) of a public or private transaction. 
  • Solvency Opinions: Most often used by private equity in dividend recapitalization transactions, we opine on the ability of the corporate entity to service new financing.

Wealth Transfer: We value carried interests in funds, both prior to investment and post investment, as part of a wealth transfer strategy for the benefit of heirs and charities.

For more information on these and other services, please see the service sheets and links to the right or contact one of the staff listed below.

Valuation For Private Equity Firms Contacts

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