Mark McMahon spoke at a webinar hosted by law firm Kirkland & Ellis on the challenges in valuing private investments amid the unique uncertainties caused by the coronavirus pandemic. The event was moderated by Kirkland Investment Fund partner Robert Blaustein. Other panelists included Norm Champ, Kirkland- Investment Fund Regulatory Partner; Ross Hostetter, Duff & Phelps; Andy Smith, Houlihan Capital; Ralitza Ganeva, KPMG; and Peter Brown, UBS.
The topics included valuation complexities faced during the first two quarters, the outlook for the remainder of the year, how reality has deviated from expectations, and the varied impact of the pandemic across industries and asset classes. The panel also compared and contrasted the current environment with the 2008 financial crisis.
Related Insight: "Illiquidity vs. Volatility: The Tale of Two Market Downturns"
Also discussed were variations in how funds implement internal valuation processes, regulatory risks involved with amending policies or changing methodologies, weightings and inputs; valuation challenges for 2020 audits, and possible issues of focus by the SEC regarding valuation throughout the pandemic.
In the extract above, Mark McMahon compares valuation during COVID with the financial crisis of 2008.
Alternatively, CLICK HERE to watch the entire webinar.
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