Fireside Chat with Oksana Westerbeke, CFA - September 13, 2023

Oksana is a Principal in Grant Thornton's Valuation & Modeling practice and the leader of Grant Thornton's national Complex Financial Instruments Group with over 20 years of valuation expe rie nee. Oksan a assists clients in identifying, quantifying, and managing risk. She specializes in the valuation of prwately held equity securities, various types of debt and embedded derivatwes, performance and market condition options, warrants wdh anti-dilution provisions and other co nting en cie s, earnouts and other contingent assets and liabilities, and other complex securdies. In addition, Oksana assists clients in the valuation of business enterprises and intangible assets.

Private equity is the investment of equity capital in private companies. PE firms (such as investment management companies, venture capital funds, angel investors, etc.) buy a stake in the target company with the hopes of making a profit over time. The capital provided by the PE firm allows the target company to pursue the development of innovative products and services and promotes the general growth of the target company. According to the consulting giant McKinsey & Company, the global assets under management in the private market are about $11.4 trillion as of 2022, with North America as the largest market. Investments made by PE firms constitute $7.6 trillion of this market. Mrs. Westerbeke will concentrate on what type of equity PE firms typically invest in, the valuation methodologies used to value PE investments, applicable calibration guidance followed when valuing PE investments, and what challenges are faced in valuing PE investments.