Brickell Valuation Partners · Miami, Florida · since 2014
Independent ASC 820 fair value for private equity portfolios.
Audit-ready valuations for buyout, growth equity, private credit, and continuation-fund mandates. Built to PCAOB workpaper standards. Counter-positioned, by design, to the Big-4 advisory arms.
Methodology and standards
AICPA SSVS · ASA · CFA Institute · USPAP-compliant · PCAOB AS 2501-aware · SOC 2 Type II · AIMA Valuation Forum member
$48B+
aggregate AUM under quarterly valuation mandate
1,400+
Level-3 positions modeled each quarter cycle
Since 2014
ASA · CFA · AICPA-credentialed practitioners across every engagement team
Services
Audit-ready valuations on every quarter-end.
01
Quarterly ASC 820 Portfolio Valuations
Fair value for buyout, growth equity, and credit positions. Deliverables include independently concluded value, range of value, or negative/positive assurance.
02
Audit Support & PCAOB Documentation
Workpapers built to PCAOB AS 2501 standards. Direct interface with Big-4 and tier-2 valuation specialist teams.
03
409A Valuations
IRS Section 409A safe-harbor valuations for VC- and buyout-backed portfolio companies. Refresh-cadence engagements available.
04
ASC 805 Purchase Price Allocations
Fair value of acquired tangible and intangible assets at deal close. Identifiable intangibles, contingent consideration, IPR&D.
05
Mezzanine & Private Credit Marks
Mark-to-model for second-lien, mezzanine, unitranche, and direct lending positions across senior and subordinated tranches.
06
Continuation Fund & GP-Led Secondaries
Independent NAV references for secondary transactions and continuation vehicles. LP-friendly fairness perspective.
Asset classes & fund types
Where our work lives.
- BuyoutLBO control positions, dividend recaps, exit-prep marks
- Growth equityMinority preferred, OPM allocation, ratchet structures
- Private creditDirect lending, second-lien, mezzanine, unitranche
- GP-led secondariesContinuation funds, single-asset and strip transactions
- Independent sponsorsDeal-by-deal valuations, fund-formation marks
- Family office allocationsDirect PE, fund-of-funds, co-invest sleeves
Engagement history
Selected anonymized engagements.
Mid-market buyout fund — Fund III quarterly mandate
Independent fair value for 18 control positions across industrials, healthcare services, and tech-enabled services. OPM-based allocation across preferred and common; market multiples cross-check; LP-reported NAV reconciliation.
$1.2B AUM · 18 portfolios · 12 quarter-ends delivered · 100% audit-clean
[GP NAME REDACTED — REFERENCES ON REQUEST]
Software-vertical continuation fund — single-asset secondary
Independent valuation supporting an LP-friendly tender at NAV crystallization. Two scenarios modeled: held-rule market case and downside calibration. OPM waterfall across four classes of preferred plus common.
$310M deal size · 4 share classes modeled · LP advisory committee read-out delivered
[SPONSOR REDACTED — REFERENCES ON REQUEST]
Private credit fund — mezzanine portfolio quarterly marks
Yield-spread analysis and discounted cash flow valuation for 24 mezzanine positions, including PIK-toggle and ratchet provisions. Direct interface with the audit team’s valuation specialist; full PCAOB AS 2501 workpaper trail.
$680M committed capital · 24 positions · 8 consecutive quarters delivered
[FUND NAME REDACTED — REFERENCES ON REQUEST]
Why independence matters
We do not do M&A advisory. We do not do tax structuring. We do valuations.
The Big-4 advisory arms produce credible valuation work — and concurrent revenue conflicts. PCAOB inspections have repeatedly flagged self-review threats inside integrated audit-and-advisory firms. SEC examination priorities for 2026 again list pricing and valuation as a focus area for adviser exams.
We were founded in 2014 to be the firm GPs hire when their auditor’s valuation specialist needs a second number to triangulate against — not the firm whose number itself is being audited. Our revenue comes from one thing: defensible fair value, delivered on time, on every quarter-end, year after year.
Quarter-end is closer than it looks.