Valuing private assets is made more difficult due to the limitation of market data. This matters because accurate valuation informs investment decisions and acquisitions but also pension, insurance and wealth product valuations. Inaccurate valuation may lead to misallocation of resources, overpayment, or undervaluation, impacting profitability and risk management. Additionally, it affects stakeholders’ confidence and regulatory compliance. Robust valuation practices must ensure transparency, fair pricing, and efficient capital allocation in private markets, fostering investor trust and sustainable economic growth.

Our research on asset valuation focuses on applying the tenets of modern asset pricing and the standards of international accounting frameworks to the estimation of private market asset prices. We design and test models that capture the pricing dynamics of private markets and allow shadow pricing large sections of the investible universe to create robust and granular comparable sets that can also be customised.