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Houlihan Capital

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Analysis and Perspectives on Valuation, Transaction Advisory, and Financial Topics

Valuation of Bank Assets

The return of volatility to the markets, due to COVID-19 and other factors, has created challenges in estimating “fair value” of investment positions. The banking

Industry Updates are Available for Q2 2020

Houlihan Capital provides Quarterly Updates on the following industries as of June 30, 2020. Information includes valuation metrics, performance data and M&A activity. Click on

Valuation Raised as an Issue by the OCIE

On June 23, 2020, a Risk Alert was released by the SEC on behalf of the Office of Compliance Inspections and Examinations (“OCIE”) that provides

Fair Value in Times of COVID-19

The Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) defines fair value, or Topic ASC 820, as the “amount that would be received in

Understanding Personal Goodwill Valuations

The Internal Revenue Service defines goodwill as “the value of a trade or business based on expected continued customer patronage due to its name, reputation,

Securities and Exchange Commission Charges Florida Investment Adviser with Fraud (May 2020)

TCA Fund Management Group Corp. (“TCA”) and TCA Global Credit Fund GP, Ltd. (“GP” or “Fund”, and with TCA, “Defendants”), a Florida based registered investment

Industry Updates are Available for Q1 2020

Houlihan Capital provides Quarterly Updates on the following industries as of March 31, 2020. Information includes valuation metrics, performance data and M&A activity. Click on

SEC’s New Framework Proposal for Fund Valuation Practices

The Securities and Exchange Commission (SEC) has proposed a new rule to modernize fund valuation practices. The rule clarifies how fund boards can satisfy their

SEC Grants No-Action Relief For The Sale of Debt Securities to Affiliates

On March 26, 2020, the SEC granted no-action relief to help open-end registered investment companies enhance liquidity and fund shareholder redemptions in light of significant