In new research entitled “Private Asset Valuation: Comparative Regulatory Briefing,” the EDHEC Infrastructure & Private Assets Research Institute (EIPA) reveals that private asset valuation is no longer being treated as a back-office technicality. Regulators are increasingly addressing it as a front-line investor-protection, market-integrity and product-governance issue.

The briefing note details the key public consultations, guidance, reviews and enforcement signals from seven regulatory regimes, including the UK FCA, US SEC, ESMA/EU, Singapore MAS and Australia’s ASIC/APRA, comparing each authority’s current priorities and signals regarding private asset valuation.

Key Findings:

• Valuation is now a governance issue: regulators are treating valuation less as a narrow model-selection problem and more as a question of accountability, challenge, conflicts, committee design, escalation and investor fairness.

• The hottest zone is private assets plus dealing liquidity: the sharpest scrutiny is attaching to open-ended and semi-liquid funds, continuation funds and any structure where imperfect valuations can affect subscriptions, redemptions, leverage, fees or investor transfers.

• Ad-hoc revaluation triggers matter: firms are increasingly expected to document the quantitative and qualitative thresholds that trigger out-of-cycle valuations, rather than simply wait for the next quarter-end or routine NAV point.

• Error correction is hardening into an operational expectation: CSSF is already operational on tolerance thresholds and remediation; IOSCO and ESMA also emphasise early error detection, prompt correction and investor compensation where material harm arises.

📖 Read the full publication:
Private Asset Valuation: Comparative Regulatory Briefing.