Independent valuation services for private companies, PE funds and public companies

Why independent valuation matters — and why the valuer’s independence is the whole point

A valuation is only as credible as the independence behind it. Whether the purpose is financial reporting, a transaction, a dispute, or periodic fund unit pricing, the value of an independent valuation lies in its freedom from the commercial interest of the party relying on it. Lever Impact’s valuation practice sits within our chartered accounting and corporate finance advisory function — separate from any transaction advisory role we may hold for the same client — so every valuation opinion is formed on the evidence, not the outcome a client hopes for.

For responsible entities and fund managers, this independence is also a regulatory expectation. ASIC’s Regulatory Guide 94 (Unit Pricing) requires documented valuation policies for each asset class within a managed investment scheme, with unlisted and illiquid assets — including private equity holdings — subject to periodic independent valuation to support accurate unit pricing and investor confidence.

Who we provide valuations for

We provide independent valuations across three client types, each with distinct standards, purposes and stakeholders.

Private companies

Valuations for private companies and family businesses — for financial reporting under AASB 13, shareholder disputes, succession and estate planning, employee share scheme pricing, tax and stamp duty purposes, and pre-transaction positioning. We apply the valuation methodology appropriate to the business — discounted cash flow, capitalisation of earnings, market multiples, or net asset value — and document the rationale clearly enough to withstand examination from the ATO, auditors, or a court.

PE funds and unlisted trusts — unit pricing valuation

Private equity funds, unlisted property trusts and other managed investment schemes holding illiquid or unlisted assets need periodic independent valuation to support accurate unit pricing under ASIC RG 94 and financial reporting under AASB 1056 (Superannuation Entities) or AASB 13 (Fair Value Measurement) where applicable. Lever Impact provides scheduled, recurring independent valuations of unlisted portfolio holdings — structured to the responsible entity’s valuation policy and timed to the fund’s unit pricing cycle — so unit prices reflect defensible, independently assessed fair value rather than stale cost or internally-marked estimates.

Public companies

Independent expert reports and valuation opinions for ASX-listed entities — covering related party transactions, schemes of arrangement, takeover defences, impairment testing under AASB 136, and purchase price allocation following an acquisition. Our valuations are built to the evidentiary standard expected by auditors, ASIC and the market.

Our valuation methodology

We apply the valuation methodology appropriate to the business and purpose — typically drawing on three approaches:

Income approach

Discounted cash flow and capitalisation of future maintainable earnings — the primary approach for operating businesses with a reliable forecasting basis, incorporating a risk-adjusted discount rate that reflects company-specific, sector and — where material — climate transition risk.

Market approach

Valuation by reference to comparable listed company trading multiples or observed transaction multiples in the relevant sector, adjusted for scale, growth profile and control premium or minority discount as applicable.

Asset approach

Net asset value methodology, most relevant for asset-holding entities, early-stage businesses without an established earnings history, or as a cross-check against income and market approaches.

When you need an independent valuation

• Financial reporting — annual impairment testing, purchase price allocation, AASB 13 fair value disclosures
• Fund unit pricing — periodic independent valuation of unlisted PE, property or infrastructure holdings for RG 94 compliance
• Transactions — supporting a capital raise, acquisition, divestment or shareholder buy-out with a defensible valuation
• Disputes — shareholder disputes, family law property settlements, and matters requiring an expert valuation opinion
• Tax and compliance — ATO market valuation requirements, employee share scheme (ESS) valuations, stamp duty
• Succession and estate planning — valuing a family business ahead of a generational transition or estate structuring

Integration with the broader Lever Impact platform

Where a valuation sits alongside a capital raise, M&A process or AASB S2 disclosure, our Advisory and Capital streams work from one consistent financial model — rather than a valuation and a deal team working from different numbers.