FVC2344. Valuing Complex Structures

Valuation of equity securities in complex capital structures, including Up-C transactions, project financing entities with future capital commitment, secondary transactions, limited liability companies (multiple of invested capital (MOIC) and/or internal rate of return (IRR) profits interests), debt-like or participating preferred and senior preferred, and adjustments to option-pricing methods to incorporate various features of outstanding securities.

Learning Objectives:

• Assess the features of securities that require or preclude certain valuation models
• Contrast different allocation models to interpret their strengths and weaknesses
• Evaluate the results of the allocation models to ensure that the results pass “sanity checks” and that the results are reasonable