Case Study — Apr. 23, 2026

Private Market Valuations: From Uncertainty to Confidence

Client Profile
A global investment firm specializing in GP seeding and providing strategic capital to managers.

Primary Users
Investment committees, fund accounting, finance, institutional investors, LPs

A global investment firm, specializing in GP seeding, recognized that to enhance Limited Partner (LP) trust and prepare for future growth, they needed to move beyond internal valuations. The firm faced increasing scrutiny from investors and a significant operational burden on its internal teams.

While confident in their portfolio, gaining independent, defensible, and transparent valuation processes were imperative to solidify their market leadership and unlock the next phase of expansion.

The firm’s reliance on an internal valuation process created several critical business challenges

  • Perceived Conflict of Interest: Internal valuations were scrutinized by LPs for potential bias, affecting the credibility of fee calculations, NAV reporting, and performance metrics (MOIC, IRR).
  • Risk of Investor Distrust: In planning for future GP-led transactions and secondary sales, the firm anticipated that a lack of independent valuation could lead to pricing disputes and jeopardize deals. 
  • Operational Bottleneck: The internal team was stretched thin, lacking the specialized, real-time data needed for their unique portfolio of GP stakes. This pulled key personnel away from strategic investment activities and toward defending valuation assumptions.  
“Our Essential Intelligence offering combines proprietary data, proven methodology, and deep domain expertise to deliver greater credibility, decisive conviction, and strategic potential.” 

A Differentiated, Data-Driven Approach

The firm engaged S&P’s Private Market Valuations services to provide a robust, independent valuation of its GP stakes. Our solution was built on a foundation of proprietary data, deep industry expertise, and a globally integrated technology platform.

What makes our solutions different

  • Data at Scale: By leveraging the S&P Global Capital IQ Pro platform to access proprietary research, extensive market data, and deep transaction information we provided a valuation model grounded in real-world evidence from both private and public company financials.
  • Leading Global Expertise: Our valuation team, comprised of specialists from around the world, brought unparalleled expertise in complex, illiquid assets. This global talent pool ensured that every nuance of the portfolio was understood and correctly modeled. 
  • Proprietary Methodologies & Technology: We applied our established, cutting-edge technology, centered on the Probability Weighted Expected Return Method (PWERM). This allows us to transparently model a full range of Upside, Base, and Downside scenarios to create a repeatable, auditable, and defensible process. 
  • The Power of the S&P Global Brand: As a trusted, independent leader in financial intelligence, our involvement immediately lent credibility to the valuation process, satisfying the firm's need for an unimpeachable, third-party assessment. 

Tangible Benefits Delivered: Confidence, Credibility, and Competitive Advantage

By partnering with S&P Global Market Intelligence, the investment firm achieved the following significant and demonstrable outcomes that directly addressed their initial challenges and positioned them for future success.

  • Bolstered Institutional Credibility: Independent, S&P Global-backed valuations eliminated the perception of conflicts of interest and strengthened the firm's reputation among peers and investors. 
  • Increased LP Trust & Confidence: LPs gained full confidence in the firm's NAV and performance reporting, smoothing the path for future fundraising and creating a more transparent partnership. 
  • Frictionless Audit and Diligence: The transparent outputs from our PWERM model and defensible methodologies streamlined external audits and due diligence, saving the client significant time and resources.
  • Delivered Operational Efficiency: Client’s key team members were freed from the operational burden of valuation, allowing them to focus on their core mission: sourcing new investments and driving value creation. 

Begin Your Journey to Valuation Confidence

We offer a seamless and tailored engagement model to help you achieve greater clarity and credibility.

  • Introductory Call: A brief call to understand your unique portfolio and specific valuation challenges.
  • Tailored Engagements: We tailor our engagements to best meet each client’s unique circumstances, requirements, and goals.
  • Pricing Proposal: Based on the agreed scope of work, we provide a clear, customized proposal for a full portfolio engagement. 

Discover why leading investors choose our Private Market Valuation services