Demystifying Valuation Clauses in LPAs for Emerging Managers
Equidam
JULY 23, 2025
The British Business Bank, for example, mandates that the fund send a valuation report within 60 days of each quarter’s end, and even wants a forward-looking cash needs forecast monthly. That one line in the definitions section effectively forces the GP to consider things like market conditions and the latest guidance on fair value.
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