David Shadlock
Mr. Shadlock specializes in valuation of private credit and private equity securities. He has significant experience with BDC portfolio valuation, quantification of damages, and complex…
The Evolution of Private Credit Markets in the U.S. and Europe
Private credit’s growth in the U.S. and Europe was shaped by different regulatory paths that continue to define governance, valuation, and cross‑border fund operations.
BDC Accounting and Valuation Panelists Take on Hot-Button Issues
In this recap of VRC’s recent panel discussion, experts delve into the complex landscape of BDC accounting and valuation, covering key issues such as the SEC’s focus on calibration, challenges in seeding new funds, the treatment of PIK interest, and more.
Daniel Turi
Daniel Turi is a part of the portfolio valuation group specializing in valuations of privately held debt and equity securities, and business enterprises for tax…
Sarit Rapport
Sarit Rapport is part of the portfolio valuation group. She has over 20 years of valuation experience performing business valuations, valuations of complex securities, valuations…
Lucy Lee
Ms. Lee specializes in business enterprise valuations, purchase price allocations, goodwill impairment testing, and securities valuations for financial and reporting and tax purposes. Ms. Lee…
Charles Paraboschi
Mr. Paraboschi is a part of the portfolio valuation group specializing in valuations of complex and structured investments, including CLO securities, leveraged lending funds, middle…
Financial Sponsor: Hedge Fund
A hedge fund client held convertible note in a company that restructured outstanding debt. As part of restructure, the note was exchanged for two separate Term Loans.
Accounting and Valuation Conference Tackles Critical Issues for Credit Funds
Ahead of an uncertain 2018, senior VRC professionals provided their insights regarding trends in accounting, valuation, taxes and other industry practices.
Valuation Q&A for Business Development Companies
Once we understand a BDC’s investment thesis and portfolio, VRC focuses on the valuation process.
Financial Sponsor: Hedge Fund
A shareholder of a closely-held hedge fund was not receiving the appropriate level of compensation per agreement with the controlling interest shareholder.
The ABCs of BDCs: Private Debt and SEC Concerns
Business development companies, or BDCs, represent a growing class of relatively large, closed-end, SEC-registered funds.
Finding the Value of BDCs
The board of directors of a BDC has the ultimate responsibility to ensure the fund’s portfolio represents fair value.