Understanding Senior Preferred Equity Valuation: Contractual Protection vs. Economic Risk
Senior preferred equity may offer contractual downside protection, but it still carries meaningful economic downside risk in fair value analysis.
Fair Value Considerations for Season & Sell Transactions in Private Credit
Valuation at the point of transfer in a season and sell transaction plays an important role in supporting consistency with fair value principles and aligning with investor expectations.
Structured Risk Transfers: Market Growth and Valuation Considerations
An overview of U.S. structured risk transfer market growth, private credit interest, and the valuation considerations of SRT credit‑linked notes.
Jacob Roese
Mr. Roese is part of the portfolio valuation group specializing in valuations of privately-held debt securities, equity securities, CLO debt securities, CLO equity securities, and…
Kevin Gawron
Mr. Gawron is part of the portfolio valuation group specializing in valuations of privately-held debt securities, equity securities, and business enterprises for financial reporting purposes.…
Oleg Pesterev
Mr. Pesterev specializes in valuing complex securities including options, warrants, preferred stocks, convertible bonds, debt, contingent considerations, and commodity instruments for financial reporting and tax…
Magdalena Keller
Ms. Keller specializes in the valuation of illiquid securities, including privately-held equity securities, fixed income securities, various derivatives and structured products, for hedge funds, private…
Huan Shu
Ms. Shu specializes in complex securities valuation for financial reporting and tax purposes. She has extensive valuation expertise in complex financial instruments, including 409A valuation,…
Tom Gottfried
Mr. Gottfried specializes in business enterprise, credit/debt instruments, equity, intangible asset and portfolio valuations. He has over 15 years of experience in planning, facilitating and…
Leon Li
Mr. Li specializes in valuing complex securities including options, warrants, fixed income and credit derivatives, structured products and other derivatives. Prior to joining VRC, Mr.…
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…
Pablo Alfaro
Mr. Alfaro specializes in valuing complex securities including options, warrants, convertible bonds, and preferred and common stock in privately-held companies. He has extensive experience valuing…
Dwight Grant
In his role as Senior Advisor to VRC, Mr. Grant advises VRC and clients on the valuations of financial instruments, derivatives, and complex securities related…
Convertible Notes Valuation
The valuation challenge with a hybrid security is to consider both the equity and debt components in a combined framework – this challenge is not without its tradeoffs.
Michael Park
Michael Park is a part of the portfolio valuation group specializing in the valuation of illiquid securities, including privately-held equity securities, fixed income securities, various…
Francis Mainville
Mr. Mainville specializes in the valuation of complex securities such as options, warrants, preferred and common stock in privately-held companies, management incentive plans (including those…
Ryan MacLean
Mr. MacLean is a part of the portfolio valuation group specializing in valuations of privately-held debt securities, equity securities, CLO equity securities, and business enterprises…
Amir Alerasoul
Mr. Alerasoul specializes in the valuations of complex securities such as options, warrants, convertible bonds, contingent considerations, and preferred and common stock in privately-held companies…