Corporate Valuations
Company Private Investment Funds investment portfolio of forty companies in Southeast Asia, China and Japan in a wide variety of industries ranging from high-tech startups to established branded consumer products companies
Background The fund management company was raising capital for a follow-on fund and needed an independent assessment of the value and performance of the companies in the existing investment portfolio. Investors wanted an indication that prior fund investments were performing well before committing to the new fund.
Issues Required a very quick completion of the valuation analysis
  Several logistical challenges in gathering information and visiting the subject companies overseas
  Company information was not always readily available or clearly communicated
D&P's Role Met with fund managers and select company management in Asia
  Analyzed pricing of foreign and U.S. public comparable companies and transactions
  Scrutinized business plans and projections
  Determined fair market value of the fund's interests
  Communicated results in a concise and complete manner
Results Client successfully closed the $750 million fund due in part to our thorough and timely analysis of the performance of the predecessor fund
  Our due diligence and analysis highlighted a number of key issues for the fund managers (for example, a retail company's plan significantly underestimated the capital expenditures for new stores, in Duff & Phelps' opinion. With this knowledge, the fund manager reduced its capital commitment and required the company to dramatically reduce the number of planned store additions).
  Pleased with our responsiveness and the quality of our work, the client regularly hires Duff & Phelps for valuation updates.
Essentials Commitment to completeness and quality for each of the forty companies valued
  Project team included many highly experienced professionals
  Creativity in analysis and reporting
  Able to work with global companies and foreign financial statements in a wide variety of industries and quickly grasp the key issues
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