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Houlihan Capital

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

Houlihan Capital logo with Value. Added. and the title Fairness Opinions in De-SPAC Transactions on a geometric, warm-toned background.

Fairness Opinions in de-SPAC Transactions

The Role of a Fairness Opinion in a de-SPAC Transaction When a SPAC enters into a business combination agreement, its board is evaluating a transaction

Banner for Houlihan Capital: logo and headline 'Preparing for a sale: What to expect from a sell-side advisor' over a blue abstract office background.

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.

Banner image for Houlihan Capital about cannabis rescheduling and business valuations, featuring cannabis leaves and a dark overlay with the headline text.

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

Houlihan Capital logo with the title 409A valuations: strategic considerations for private company equity compensation over a blurred financial background.

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

Houlihan Capital banner with logo and the headline 'Portfolio Valuation Under ASC 820: A Practical Framework for Fund Managers' over a cityscape background.

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

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

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

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