Daily News: June 28, 2012

Hilco Launches New Unit, Hilco Valuation Advisory

Hilco announced the launch of Hilco Valuation Advisory (HVA), which provides independent third-party valuations and reasonableness opinions on existing valuations of less-liquid and non-publicly traded securities. Clients include private equity funds, hedge funds and business development companies that invest in such assets.

Aryeh Sheinbein has been named managing director and practice leader. He had been the head of the internal valuation and asset management group at Plainfield Asset Management. Prior to this, he was the co-head of the Hedge Fund Portfolio Valuation Group at Duff & Phelps. Sheinbein has also held investment research positions with JP Morgan, UBS and Bank of America.

“As the market for investing in illiquid securities has evolved, having an independent third party to value or confirm the value of a fund’s securities helps investors, auditors and regulators get more comfortable with the process a fund uses to determine the carrying values,” said Sheinbein.

Joining Sheinbein is Edward Friedman, vice president, who also came from Plainfield Asset Management, where he spent the last three years specializing in illiquid securities valuations. Prior to this, Friedman was with Duff & Phelps, working on a broad range of valuation services, including private equity and hedge fund clients needing illiquid asset portfolio valuations.

HVA will take its place within Hilco as part of Hilco Appraisal Services (HAS), the international provider of value assessment solutions covering all categories of tangible and intangible assets. Thomas A. Greco, CEO of HAS, said, “The addition of a respected and experienced portfolio valuation team strengthens our already market-leading position. Aryeh and Ed bring a wealth of knowledge and expertise to our organization, which will be of great benefit to our customers.”

Hilco Valuation Advisory is headquartered in New York City.

Hilco is a privately held, diversified financial and operational services firm whose principal competency is understanding and maximizing the value of business assets.