Tips on portfolio valuation policies from inaugural AICPA forum

BVWireIssue #250-1
July 12, 2023

valuation profession news
AICPA, fund valuations, conference, investment, private equity, investment value

BVWire attended the AICPA’s late afternoon forum on portfolio valuations on June 28, hosted by KPMG in its offices in New York City (it was also virtual). This was the first in what will be a recurring event on this topic.

In responding to a question from the audience, the panel gave some advice on written policies for portfolio valuations. The SEC will look at the policy, so make sure it aligns with what is being done. Also, the policy should be as asset-class agnostic as possible and as broad as possible. A policy that is too specific will be easy to deviate from and will have to be frequently revised.

Sumeet Bhatnagar of KPMG acted as moderator of the panel, which included Garrett Pittenger (Apollo Global Management), Michael Weinberg (First Republic Bank/Columbia Business School), Augie Wilkinson (Bessemer Venture Partners), Jennifer Young (BDT & MSD Partners), and Douglas Burrill (PIMCO).

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