In a recent speech to the Private Equity Forum of the Practicing Law Institute, Norm Champ, Director of the Division of Investment Management for the SEC, described the growing use of alternative investment strategies by ’40 Act open-end mutual funds. He noted that increased disclosure androbust valuations of illiquid investments…

Houlihan Capital is a proud sponsor of the Alliance of Merger & Acquisition Advisors (AM&AA) 2014 Summer Conference. The event is being held at the JW Marriott Chicago (151 W. Adams St, Chicago, IL 60603) on Tuesday, July 22nd thru Thursday July 24th. Attending from Houlihan Capital will be Vice…

The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) which amends the criteria that define an investment company, clarifies the measurement guidance, and requires new disclosures. The ASU arose from collaboration between FASB and the International Accounting Standards Board (IASB) to develop a consistent approach to recognizing…

Uptick in Dividend Recaps – Reduce the Risk Current interest rates remain at historically low levels, even for already leveraged companies and firms with higher-risk credit profiles. This has led to record amounts of recent debt financing activity. An increasing number of borrowers are feeding off investor demand for higher…

A fairness opinion is an effective, often necessary, risk management tool that determines whether the terms of a transaction are fair to stakeholders from a financial point of view. In significant change of control or capital transactions, obtaining a fairness opinion facilitates the decision-making process. The purpose of the fairness…