On April 7, 2020, Duff & Phelps hosted a webcast titled,
"Coronavirus: How should institutional investors be valuing
fund interests at March 31, 2020?" that covered how to reflect
the impact of COVID-19 and current market conditions when
estimating and reporting fair value of fund interests and other
investments for the March 31, 2020 quarter end. Insights from the
webcast were covered by the Private Funds CFO in the
article "Fund managers should be communicating NAV
expectations with LPs."
Talking about the different timelines that limited partners
(LPs) may have to abide by, David Larsen, Managing Director in Duff
& Phelps' Alternative Asset Advisory practice, said during
the webcast that "some LPs need to report in April, some
don't report until May. If they can wait, they'll probably
wait, but if they need to know now, if they need to show quarterly
results...they have to decide it [themselves] if they don't
have the information from the GP."