Insights
Insights
Analysis on portfolio valuations, methodology, and the mid-market.
Browse
- 13 July 2026UK Mid-Market Pulse: Q2 2026Valuation multiples across the UK mid-market in Q2 2026: 8 of 9 sectors re-rated on the quarter, though multiples remain down year-on-year.
- 15 April 2026UK Mid-Market Pulse: Q1 2026Valuation multiples across the UK mid-market in Q1 2026: 9 of 11 sectors de-rated on the quarter, and what that means for private portfolio marks.
- 24 March 2026Selecting Comparable Companies: What Most Valuation Analysis Gets WrongThe theory behind comparable company analysis is simple - it involves deriving a valuation for a business by referencing how the market prices companies wi…
- 19 January 2026Making Valuations Audit-Proof: A Practical Guide for Private Equity FundsAudit-proof valuations are not about avoiding judgemental areas or suppressing quarter-on-quarter movements. They are about applying judgement in a discipl…
- 7 January 2026Non-Performing Loans: Choosing the Right Valuation ApproachNon-performing loans are highly situation-specific. The drivers of under-performance matter more than the label, because they shape both recoverability and…
- 28 December 2025Balancing DCF & Market Multiplies: Making the Right Call in PE ValuationsA DCF links value to future cash generation. It requires a view on growth, margins, reinvestment, cash conversion, capital structure and the cost of capita…
- 16 December 2025The Myth of Par: Why Private Credit Loans are Rarely Worth Face ValueIn private credit portfolios, loans are often reported at or close to par while they continue to perform. Interest is paid, contractual terms are broadly o…
- 5 December 2025Europe Rearms: Private Markets Want Piece of the ActionDefence was avoided by many UK and European LPs for years due to ESG-based exclusion policies and tight regulatory scrutiny. The war in Ukraine, a less pre…
- 26 November 2025Small but Mighty: The Rapid Rise of SME Direct LendingAs banks pull back and mid-market direct lending becomes more competitive, SME direct lending is emerging as a distinct and scalable opportunity for privat…
- 5 November 2025How Interest Rate Movements Impact Private Equity ValuationsGenerally, lower rates support higher enterprise values “EV” through lower discount rates, lower interest costs, and greater investor appetite. Higher rate…
- 5 November 2025How Interest Rate Movements Impact Private Credit ValuationsA key input into fair value is the discount rate applied to future cash flows. When risk-free rates rise, the discount curve shifts upward, reducing presen…
- 3 October 2025Fair Value Matters: Why Funds Can’t Afford to Stand StillWhile cost reflects what was paid, fair value reflects what it’s worth today - and for investors, regulators, and auditors, that distinction is critical.
Get started
Get started today
We would be happy to learn more about your fund and discuss how we can support your valuation needs. Reach out to start a confidential conversation.
Where to reach us
- Head office
- London, UK