Illiquid Debt & Complex Securities
We assist clients with their valuation of private debt positions, complex structured investments, and derivatives.
We take time to understand and evaluate the underlying businesses comprising your investments including key assets, and industry; and then present comprehensive advice based on a thorough analysis informed by years of experience.
What We Do
BRG Corporate Finance’s Debt and Complex Securities team professionals provide real-world investment experience to value clients’ most complex debt and derivative positions.
Our professionals use their expertise primarily for financial and investor reporting, as well as for valuation in support of disputes and lawsuits.
Our valuation techniques are standardized and consistent with market practice. They stand up to both audit and regulatory scrutiny.
Our team consists of industry professionals who bring experience and credibility to both the front- and back-office clients we serve.
Our professionals provide valuation of illiquid debt investments and derivative structures to help clients navigate the inherent fair value challenges of private and hard-to-value investments, from single investments to entire portfolios, including:
- Debt securities, including senior and subordinated, secured and unsecured, performing and distressed
- Loan pools
- Structured products, including CLOs, CDOs, ABS, CMBS, and RMBS
- Derivatives, including options, warrants, convertible securities
Our team members have extensive experience valuing a broad variety of fixed-income portfolios as both a valuation specialist and a principal investor. They work with investment managers that are seeking enhanced return by moving down market to less liquid products.
Given the high level of scrutiny afforded to structure products since the financial crisis, our professionals have been called upon to value a wide range of structured transactions, including private and non-dollar deals.
They stay on top of changing trends and assumptions in the industry. They deploy the most up-to-date valuation analysis tools.
As many Alternative Investments managers shift their focus to more hybrid structures, BRG professionals have met the need to provide valuation services for the embedded derivatives in these complex instruments. Using option pricing models, we work with our equity specialists to ensure value is appropriately allocated.
As direct lending grows in popularity and complexity, the need for an experienced valuation team increases. In many cases, investment structures involve multiple levels of the capital structure, including derivatives – packages that we value on a regular basis.
The types of investors using these services include:
- Hedge Funds
- Distressed Funds
- Business Development Companies
- Mezzanine Funds
- Direct Lending Vehicles
- Pension Funds and Other Limited Partners
Our industry knowledge is broad and deep.
BRG combines intellectual rigor with practical, real-world experience. We have an in-depth understanding of industries and markets, with expertise spanning the major sectors of the global economy. Following are some of the many sectors that we know inside and out.