ALTERNATIVE ASSET MANAGERS

AltaView is a leading provider of valuation services to alternative asset managers. Whether in the context of tax planning and compliance, founders’ succession planning, entity and ownership restructuring, transaction advisory, or controversy support, AltaView offers unparalleled knowledge and experience valuing a variety of complex ownership interests in these uniquely structured and managed firms.

Primary Services

AltaView regularly values structured interests in alternative asset management firms for a variety of purposes, including:

Partners’ estate and tax planning (e.g., vertical slice transfers at fund formation)
Founders’ succession planning
Admitting new owners or repurchasing departing owners’ interests
Corporate restructuring
Fairness opinions in the context of mergers and acquisitions
Owner disputes

Our professionals possess indepth knowledge across the industry, including private equity, venture capital, hedge funds, real estate funds, fund of funds, and business development companies. We work with newly formed single portfolio manager firms, as well as large, diversified firms with long histories and broad equity ownership. AltaView typically values the following:

Carried interests (also referred to as performance fees, incentive fees, or promote)
Co-invest capital (not subject to standard limited partner terms such as management fees and carried interest)
Limited partner capital
Management fee waivers
Management company net fee income
Vertical slice transfers meeting the requirements under Section 2701
Enterprise value determinations for profit interests grants

Experience

No two alternative asset managers are alike in terms of their investment strategy, legal entity structures, and economic sharing arrangements. AltaView’s experienced professionals expeditiously navigate lengthy and complicated legal documentation to accurately project the economic return and, just as importantly, to assess the degree of risk and illiquidity associated with various complex structured interests in these firms. Our professionals have successfully defended valuations in estate planning, estate tax, and income tax matters and have experience supporting firms and their owners in arbitration and other private disputes.