Preparing for a Sale: What to Expect from a Sell-Side Advisor
Framing the Decision to Sell For many founder-owned businesses, a sale represents one of the most significant financial and strategic decisions an owner will make. It is often the culmination of years, if not decades, of effort, risk-taking, and reinvestment. Despite its importance, most founders go through the process only once. Unlike operating decisions made daily within […]
Cannabis Rescheduling Is Here. What It Means for Business Valuations.
On April 22, 2026, the Acting Attorney General issued a final order reclassifying FDA-approved marijuana products and state-licensed medical marijuana from Schedule I to Schedule III under the Controlled Substances Act. A formal DEA hearing on broader cannabis rescheduling is scheduled to begin June 29, 2026. This is the most consequential shift in federal marijuana […]
409A Valuations: Strategic Considerations for Private Company Equity Compensation
The Growing Importance of Equity Compensation Discipline For many private companies, 409A valuations are treated as a compliance requirement, completed to support option grants and satisfy regulatory expectations. However, when the process is approached as a periodic checkbox rather than a strategic input, it can introduce avoidable friction across the organization. Misalignment between grant timing […]
Portfolio Valuation Under ASC 820: A Practical Framework for Fund Managers
The Growing Importance of Fair Value in Private Markets For many fund managers, valuation becomes a focal point when it breaks down under scrutiny. Auditor challenges, LP questions around consistency, or valuation conclusions that do not hold up against market reality can create friction at critical moments. These issues often surface during audits, fundraising, or […]
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 […]