Valuing Carried Interest for Trust and Estate Planning: A Strategic Overview
Few assets present as many valuation challenges in the context of estate and gift planning as carried interest. The value of carried interest is contingent on future fund performance, is governed by complex waterfall mechanics, and is usually very illiquid. These characteristics make it both difficult to value and, in some cases, difficult to defend under IRS […]
2025 IPEV Valuation Guidelines: Key Principles and Practical Implications for Fund Managers
Management Company Valuations in Trust and Estate Planning: A Strategic Overview
Investment management firms present a distinctive set of valuation challenges in the context of estate and gift planning. The same characteristics that make these businesses valuable also make them analytically complex to value and, in some cases, difficult to defend under IRS scrutiny. When ownership interests are incorporated into estate or gifting strategies, a well-supported […]
Valuing Private Assets in Retail Funds: Insights from the SEC’s Private Markets Roundtable
Key Takeaways for Fund Managers and Boards On March 4, 2026, the Securities and Exchange Commission hosted a roundtable examining the growing intersection between private markets and retail investors, with particular focus on valuation practices and governance under Rule 2a-5 of the Investment Company Act. As private market strategies increasingly migrate into registered vehicles such […]
Understanding Business Valuations for Trust and Estate Purposes
Closely held business interests frequently represent the most significant and complex asset within a high-net-worth estate. Unlike publicly traded securities, their value is not readily observable — and for estate planning, gifting strategies, and generational wealth transfers, an accurate, well-documented valuation is often central to the entire planning process. For estate planning attorneys, tax advisors, family office professionals, and […]