Private credit is one of the fastest-growing areas in alternative investments, driven by tighter traditional lending and demand for higher yields. But its rise brings valuation challenges—limited transparency, non-standard pricing, and infrequent market activity. How can these assets be accurately valued? What risks might be overlooked? And how should investors assess performance and liquidity? Hear from a specialist tackling these questions, and explore AICPA resources to enhance your valuation analysis.

Key takeaways 
•    Industry economics and motivations of stakeholders and constituents
•    Applications and limitations of formal valuation and accounting guidance
•    Characteristics and valuation implications of payment-in-kind (PIK) features
•    Looking beyond carrying values to assess debt instruments

Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses.

Guest: Susan DuRoss, Managing Director, Global Head of Valuation, Harvest Investments
Host:  Howard Mah-Lee, CFA, CAIA, ABV, Senior Manager, AICPA Valuation Services

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RESOURCES FOR FURTHER EXPLORATION
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UPCOMING:  Business Valuation School - Dec 1-5, Live online

JUST MISSED:  AICPA FVS Conference, Oct 27-29, 2025  - you can purchase sessions and the handouts.  Please see here

Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides

•    Valuation of Privately Held Companies Equity Securities Issued as Compensation
•    Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content

• Private credit valuation in alternative investments | FVS webcast archive
• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

The FVS Valuation Podcast archives
•    409A Valuations – What you Need to Know
•    SAFEs, Convertible Notes, and Embedded Derivatives

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:
Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic
Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic
Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com