IPEV Group
17.12.2012 16:00
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BRUSSELS, Belgium, 2012-12-17 16:00 CET (GLOBE NEWSWIRE) --
The International Private Equity and Venture Capital Valuation Guidelines
Board (IPEV Board) today released Updated Private Equity and Venture Capital
Valuation Guidelines (www.privateequityvaluation.com). Notably, these
Guidelines take into account amendments to Fair Value accounting standards
promulgated by the Financial Accounting Standards Board (FASB) in the United
States and the issuance of Fair Value accounting standards by the International
Accounting Standards Board (IASB).
'The IPEV Valuation Guidelines, which have become the worldwide standard for
use by buy-out and venture capital managers around the globe, serve to meet the
growing need for technical guidance on this and other highly complex, dynamic
valuation issues,' said Stephen Kempen, IPEV Board member and Funds
Administration Director of Apax Partners. 'We're pleased to report that more
and more Limited Partner investors in Private Equity are requesting that their
General Partners comply with the IPEV Valuation Guidelines to help assure
credible reporting of Fair Value estimates.'
The Updated IPEV Valuation Guidelines have been drafted to be consistent with
IFRS, US GAAP and other bases of accounting using a similar definition of Fair
Value. In 2011, FASB and the IASB harmonized their definition of Fair Value and
related guidance; the updated IPEV Valuation Guidelines take into account the
2011 Fair Value accounting changes and best practices.
'Fair Value estimates require judgment, and the Updated Private Equity and
Venture Capital Valuation Guidelines provide straight-forward guidance on the
delicate exercise of applying human judgment to ultimately determine accurate
values of private equity investments,' said Emile Van Der Burg, the IPEV Board
Chairman. 'Further, the Updated Private Equity and Venture Capital Valuation
Guidelines provide definitive guidance on the application of Fair Value in the
global private equity industry - including investments in early stage ventures,
buyouts, infrastructure, mezzanine debt and similar investments in growth or
development capital.'
'Fair Value continues to provide investors with the best basis for monitoring
their portfolios, informing key asset allocation decisions, and of course
complying with accounting standards,' said David Larsen, IPEV Board Member, and
managing director at financial advisory and investment banking firm Duff &
Phelps. 'As important questions about applying Fair Value standards emerge,
IPEV's Updated Private Equity and Venture Capital Valuation Guidelines
anticipate points of potential confusion and chart a clear path to reaching
accurate and consistent outcomes.'
Notes to Editors:
The IPEV Valuation Guidelines exist to help the private equity industry address
the need for greater consistency and comparability in assessing Fair Value for
private equity and venture capital investments. The Guidelines also promote
compliance with IFRS, US GAAP and other accounting principles.
Separate and distinct from the IPEV Valuation Guidelines, the IPEV Investor
Reporting Guidelines address the need for reporting information beyond
requirements of financial statement reporting, taking into account the need for
flexibility among various types of funds and fund managers.
About IPEV
In October 2005, IPEV was created as an independent body and charged with
maintaining, promoting, monitoring, and updating the Valuation Guidelines, as
well as providing guidance on the application of the Guidelines to all
worldwide stakeholders in the Private Equity and venture Capital
industry--assisting practitioners, investors, regulators and auditors. More
information can be found on the IPEV website at www.privateequityvaluation.com.
The private equity and venture capital associations supporting IPEV include:
AFIC - Association Francaise des Investisseurs pour la Croissance
AIFI - Italian Private Equity and Venture Capital Association
AMEXCAP - Mexican Private Equity Association
AMIC - Moroccan Venture Capital and Private Equity Association
APCRI - Portuguese Private Equity and Venture Capital Association
ASCRI - Spanish Private Equity and Venture Capital Association
ATIC - Tunisian Association of Capital Investors
AVCA - African Venture Capital Association
AVCAL - Australian Private Equity and Venture Capital Association
AVCO - Austrian Private Equity and Venture Capital Organization
BVA - Belgian Venture Capital & Private Equity Association vzw/asbl
BVCA - British Private Equity and Venture Capital Association
BVK - German Private Equity and Venture Capital Association e.V.
CAPE - China Association of Private Equity
CVCA - Canada's Venture Capital and Private Equity Association
CVCA - China Venture Capital Association
CVCA - Czech Venture Capital and Private Equity Association
DVCA - Danish Venture Capital and Private Equity Association
EMPEA - Emerging Markets Private Equity Association
EVCA - European Private Equity and Venture Capital Association
FVCA - Finnish Venture Capital Association
HKVCA - Hong Kong Venture Capital Association
HVCA - Hungarian Venture Capital and Private Equity Association
ILPA - Institutional Limited Partners Association
IVCA - Irish Venture Capital Association
LAVCA - Latin American Private Equity and Venture Capital Association
LPEq - Listed Private Equity
LVCA - Latvian Venture Capital Association
MENA Private Equity Association
NVCA - Norwegian Venture Capital & Private Equity Association
NVP - Nederlandse Vereniging van Participatiemaatschappijen (Dutch Private
Equity and Venture Capital Association)
NZVCA - New Zealand Private Equity and Venture Capital Association
PSIK - Polish Private Equity and Venture Capital Association
Reseau Capital - Quebec's Private Equity and Venture Capital Association
RVCA - Russian Private Equity and Venture Capital Association
SAVCA - Southern African Venture Capital and Private Equity Association
SECA - Swiss Private Equity and Corporate Finance Association
SLOVCA - Slovak Venture Capital Association
SVCA - Singapore Venture Capital and Private Equity Association
SVCA - Swedish Private Equity and Venture Capital Association
CONTACT: For comments, please contact:
Stephen Kempen (Apax Partners) - Europe
email: Stephen.kempen@apax.com
David Larsen (Duff & Phelps) - US
Tel: (001) 415 693 5330
email: david.larsen@duffandphelps.com
For further information, please contact:
Didier Guennoc, IPEV Secretary
Tel: +32 486 62 99 78
email: didier.guennoc@ldspartners.com
News Source: NASDAQ OMX
17.12.2012 Dissemination of a Corporate News, transmitted by DGAP -
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Company: IPEV Group
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DGAP-News: IPEV Board Releases Updated Private Equity and Venture Capital Valuation Guidelines
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