FAQ
What is benchmark-driven valuation for private assets?
The benchmark is an explicit market signal, not a substitute for fair value judgment.
Answer
Benchmark-driven valuation uses an explicit market proxy and governed sensitivity to carry private-asset value between sparse external NAV observations. The benchmark is not the valuation by itself. It is the observable market signal used to make interim systematic movement visible and reproducible.
In TCBV, the benchmark leg works alongside cash flow treatment, idiosyncratic adjustment, true-up treatment, calibration evidence, and governance controls.