Private Market Valuations - Governance, Transparency and Disclosure Guidelines

In this guidance memo, we examine the current landscape of private market valuations, exploring existing accounting and industry standards, fund manager regulations, and the role of third-party service providers in addressing investor concerns. We highlight areas where the SBAI will introduce new industry standards and provide practical guidance for managers, alongside key questions for investors to assess the reliability of private market fund valuations.

The memo reaffirms the SBAI’s Alternative Investment Standards and reviews existing industry guidance on valuing private equity, private debt, venture capital, real estate, and infrastructure investments. It also clarifies areas where consensus is lacking and offers investors essential questions for evaluating their investment managers. This document is complemented by a consultation paper outlining proposed amendments to the SBAI’s Alternative Investment Standards. Please click here to download the consultation paper.