FAQ

How should frequent private asset estimates be governed?

Frequent valuation needs a control path, not a full committee process for every routine update.

Answer

Frequent valuation does not mean every routine update needs a full committee cycle. It does mean every event, parameter, adjustment, and material exception needs a defined control path.

Capture complete event rows and source evidence.
Document proxy selection and beta calibration.
Separate policy-covered idiosyncratic adjustments from exceptions.
Escalate adjustments that breach the NAV-per-share or internal materiality trigger.
Retain valuation reports, calibration reports, and checkpoint history.