In the article, Miller describes how the need for independent valuation services has no signs of a plateau because audit and limited partner scrutiny shows no evidence of leveling off. He said, “PE fund managers are relying more heavily on a third-party valuation firm for the purpose of managing investor reporting requirements that must be completed on a periodic basis. Investors expect transparency into valuation estimates including info on methodologies, key market inputs, valuation models and accurate markets for performance measurements.”
Miller also notes this is pressing for limited partners and asset managers that focus on non-traded, illiquid assets, which can be difficult to value and can have a material impact on reported figures.
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