Perspectives on valuation.

July 6, 2026

Same Loan, Different Price: Private Credit's Mark Dispersion Problem

The same senior secured loan, marked 27 points apart by regulated fiduciaries on the same day. What private credit marks actually measure — and what would fix it.

February 23, 2026

What NAV Lenders Should Actually Require From an Independent Valuation Report

The NAV lending market is $150B and growing 30% annually. The valuation reports supporting it were designed for auditors, not lenders. Here’s what should change.

January 15, 2026

ASC 820 Portfolio Valuation: What Fund Managers Need to Know

A practical overview of ASC 820 fair value requirements for venture capital, private equity, and private credit fund managers.