Alternative Investment Valuation Leader

Steve has provided financial advisory services to companies in a wide variety of industries for over 20 years. Steve has extensive experience with alternative investment firms including private equity firms, hedge funds, investment advisors, and broker-dealers. His experience extends to other financial services firms including banks and thrifts, property/casualty insurance companies, life/health insurance companies, reinsurance companies, insurance brokers, and agencies.

Steve has acted as financial advisor to many companies engaged in transactions. These engagements have included divestitures, fairness opinions, initial public offerings, follow-on offerings, rating agency review, feasibility studies, and due diligence. He has also executed a wide variety of engagements for financial reporting and tax purposes, as well as dispute resolution.

Execution of these engagements has relied on his expertise in the valuations of many types of securities, including common equity (C-corporation and S-corporation), partnership interests, mutual policy-holders’ interests, preferred equity, debt, convertible securities, options, and warrants. In addition, he has valued a wide variety of intangible assets and financial assets and has participated in tangible asset valuations.

Steve’s professional experience includes:

• Provided monthly valuations for a major hedge fund for financial reporting purposes covering over 1,500 separate valuation reports over more than five years.
• Valued a large fund of hedge funds for a selling minority shareholder.
• Authored many fairness opinions, including the acquisition of a regional medical malpractice insurer, a regional bank, and an industrial services firm.
• Provided financial advisory and valuation services to hedge fund on $5-6 billion potential acquisition of German residential real estate company.
• Financial advisor to internationally renowned medical foundation in highly publicized debate regarding a railroad expansion. Steve’s analysis was quoted extensively in the media and is being used by the US Senate Budget Office.
• FAS 141 studies for two private mortgage insurers regarding their joint acquisition of a lending company. Subsequently, acted as advisor to their later divestiture of this holding.
• Financial advisor to large supplemental health insurer on potential acquisition.
• Valued mutual policyholder interests in demutualization of a medical malpractice insurer.
• Several FAS 142 studies for $3 billion technology consulting firm with six reporting units, requiring several Step 2 studies. Intangible valuations included technology, backlog, and pipeline.
• Valued non-solicitation and non-competition agreements for large international bank in its acquisition of New York bank and money management firm.