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For this valuation post, I wanted to talk about a valuation method that is making its way out of academia and into the real world, a method that is gaining popularity in the world of portfoliomanagement. Projected Book Value of Equity at the end of the 15 years = from the proforma balance sheet that we developed in our DCF post.
The multi-manager hedge fund model is simple: Raise $10-20 billion, borrow at the fund level to take this to $50-$100 billion, and then allocate this capital to dozens of internal teams. So, expect a lot of quarterly financial projections , quick public comps , and simple DCF models linked to specific catalysts.
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