Alternative assets valuation and valuation oversight: venture capital

Market turbulence, credit crisis, and pressure from governing bodies for additional regulation in the alternative investment sector are some important elements which we believe will put an increasing emphasis on the requirement to have a strong and reliable fair valuation process for alternative assets. Going forward, General Partners can expect investors, auditors and regulators to scrutinise their valuation estimation more closely.

By the end of the training, participants will be able to:

• Describe accurately accounting valuation rules
• Understand precisely the valuation guidelines
• Apply recognised methodologies
• Get clues for effective oversight controls

• Valuation Technics
• Oversight
• Case studies

An attendance certificate will be sent to participants.

This training is coordinated by Talat Kadret, Partner at PwC Luxembourg.

The session is presented by PwC subject matter experts dealing on a daily basis with alternative assets valuation topics.

Talat is an audit partner in the Alternative department of PwC Luxembourg.

Since joining PwC in 2007, he has gained experience through numerous assignments in both medium size and international companies. In particular, he has developed strong skills in auditing investment funds with a large focus on the private equity and venture capital industries.

He is also leading our Alternatives Valuation Services (AVS) practice. Talat is currently focused on private equity and venture capital through the audit of several structures organised under various types of companies (SICAR, SIF, RAIF, SCSp, holding) as well as through the review of the valuation of the funds participation (review of the fair market value using different valuation methods, application of the IPEV guidelines, etc.).

Alix is an audit director in the Alternatives Valuation Services (AVS) department at PwC Luxembourg within the Assurance Alternatives practice.

He currently specialises in reviewing valuation models and assumptions used for private company equity and private debt valuations for financial reporting purposes. Alix has performed business valuations for a variety of purposes, including fair value accounting, impairment testing and deferred tax asset recoverability assessments.

In his role, Alix has exposure to a range of valuation methodologies such as discounted cash flow models, trading and transaction multiple valuations, milestone analyses, and net asset value as a practical expedient.

He holds the Chartered Financial Analyst (“CFA”) designation and is a Certified Public Accountant ("CPA") licenced in the state of Massachusetts.

Samir joined PwC in 2012 and is a director within our Alternatives Valuation Services (AVS) practice.

He has developed expertise of the private equity industry in the context of assurance engagements, with a focus on business valuations and modelling. He gained an extensive knowledge and set of skills on valuation processes, techniques, and market practices along with the relevant auditing skills.

Samir helps lead our AVS practice in managing and delivering a diverse range of alternative investments and assets valuation engagements, in the context of assurance and non-assurance services, to local and international clients and PwC offices. He has exposure to a wide range of valuation methodologies such as discounted cash flow models, trading and transaction multiple valuations, net asset value approach as well as milestone analyses, primarily in the context of financial reporting.

Samir is a Chartered Financial Analyst (CFA) and a Chartered Valuation Surveyor (MRICS).