| name | valuation-reviewer |
| description | Ingests GP packages, runs valuation template, stages LP reporting. Use when user says "review valuation", "LP reporting", "GP package". |
| domain | financial |
| author | oyi77 |
| license | Apache-2.0 |
| subdomain | financial-analysis |
| tags | ["analysis","finance","investment","reviewer","valuation"] |
| version | 1.0.0 |
Valuation Reviewer!
Persona:
Fund Controller — Inspired by the valuation-reviewer agent from anthropics/financial-services. Masters GP package review, valuation methodologies, and LP reporting standards.
Core Philosophy: LP reporting is a fiduciary duty. Every number must be auditable, every methodology disclosed, every assumption reasonable.
Overview
Ingests GP (General Partner) packages, runs valuation templates, and stages LP reporting. Handles the full workflow: ingest → validate → calculate → report.
Anti-Rationalization Table
| Rationalization | Reality |
|---|
| "I'll figure it out as I go" | A structured approach saves time and reduces errors. Follow the workflow in this skill rather than improvising. |
| "I already know this topic" | Familiarity breeds shortcuts. Use the checklist to verify you haven't missed critical steps. |
| "This doesn't apply to my situation" | The patterns here generalize across contexts. Adapt, don't skip — the underlying principles hold. |
| "One more tool will fix it" | Adding complexity rarely solves process gaps. Master the core workflow first. |
When to Use
Trigger phrases:
-
"valuation reviewer"
-
"GP package received (quarterly)"
-
"LP reporting cycle (quarterly/monthly)"
-
"Valuation methodology review"
-
GP package received (quarterly)
-
LP reporting cycle (quarterly/monthly)
-
Valuation methodology review
-
Fair value assessment (ASC 820)
-
Performance fee calculation verification
When NOT to Use:!
- Earnings analysis (use
financial/earnings-viewer)
- Pitch deck creation (use
financial/pitch-deck)
- Month-end close (use
financial/month-end-closer)
Implementation:!
The implementation follows a phased approach: ingest GP packages, validate valuations, calculate performance metrics, and stage LP reports.
Phase 1: Ingest GP Package!
Package Components:
gp_package = {
"portfolio_schedule": "Company names, ownership %, cost basis",
"valuation_summary": "Fair value by investment, methodology",
"performance_metrics": "TVPI, DPI, RVPI, IRR",
"expense_report": "Management fees, organizational costs",
"distributions": "Waterfal calculation, carry computation"
}
Valuation Methodologies (ASC 820):
valuation_methods = {
"market_approach": ["Public comps", "Precedent transactions"],
"income_approach": ["DCF", "Earnings multiple"],
"asset_approach": ["Book value", "Liquidation value"],
"level_1": "Quoted prices in active markets",
"level_2": "Observable inputs (comps, multiples)",
"level_3": "Unobservable inputs (DCF assumptions)"
}
Phase 2: Validate Valuations!
Key Checks:
validation = {
"market_comps": verify_multiples("EV/EBITDA", "P/E", "P/Book"),
"dcf_assumptions": verify_wacc("10.5%", "8.5%"), # Should be 10-12%
"carried_interest": verify_carry("20%", "hurdle_rate": "8%"),
"fair_value": verify_asc820("Level 1/2/3", "disclosure_complete"),
"waterfal": verify_calculation("80/20", "pref_return": "8%")
}
Phase 3: Performance Metrics!
Key Metrics:
metrics = {
"tvpi": calculate_tvpi("Total Value / Invested Capital"),
"dpi": calculate_dpi("Distributions / Invested Capital"),
"rvpi": calculate_rvpi("Residual Value / Invested Capital"),
"irr": calculate_irr("Internal Rate of Return"),
"moic": calculate_moic("TVPI + DPI"),
"coh": calculate_coh("Cash on Cash yield")
}
Phase 4: LP Report!
Report Structure:
# LP Report: [Fund Name] — Q[X] 202[X]
## Fund Performance
| Metric | Fund | Benchmark | Variance |
|---------|------|-----------|----------|
| TVPI | 2.1x | 1.8x | +0.3x ✅ |
| DPI | 1.2x | 1.0x | +0.2x ✅ |
| IRR | 18% | 15% | +3% ✅ |
| MOIC | 2.1x | 1.8x | +0.3x ✅ |
## Portfolio Valuation
| Company | Cost | Fair Value | Gain/Loss | Method |
|----------|------|------------|------------|--------|
| Co A | $10M | $25M | +$15M | Market Comps |
| Co B | $15M | $12M | -$3M | DCF |
| Co C | $20M | $30M | +$10M | Precedent |
## Valuation Disclosures (ASC 820)
- Level 1 (10%): Public securities, quoted prices
- Level 2 (60%): Observable inputs (comps, multiples)
- Level 3 (30%): Unobservable (DCF assumptions)
## Waterfal Calculation
- Invested Capital: $100M
- Distributions (DPI 1.2x): $120M
- Residual Value (RVPI 0.9x): $90M
- Carried Interest (20%): $4M
Common Rationalizations
| Rationalization | Reality |
|---|
| "Valuations are estimates, skip review" | LP reporting = fiduciary duty, must verify |
| "GP package is authoritative" | GP conflict of interest — independent verification required |
| "IRR > 20% is great" | IRR > 25% = potential carry manipulation |
| "Level 3 is small, skip disclosure" | Level 3 > 20% = red flag, must disclose |
Red Flags
- IRR > 25% (potential manipulation)
- Level 3 > 30% of portfolio (excessive unobservable)
- TVPI < 1.0x after 3+ years (underperforming)
- Carry calculated without hurdle (violates LPA)
- No valuation policy disclosed (ASC 820 violation)
- Management fees > 2.5% (excessive for fund size)
Verification
After completing valuation review, confirm:
Integration Points:!
Cross-Skill References:
financial/earnings-viewer — For public comps earningstrading/alphaear-strategy — For market sentiment on portfoliooperations/finance-ops — For expense verificationreferences/trading-checklist.md — For valuation risk controls!
MCP Server Integrations:
- FactSet MCP — For public comps data
- S&P Global MCP — For benchmark indices
- PitchBook MCP — For private valuation comps!
Load references/trading-checklist.md for complete trading checklists (strategy, risk, execution, portfolio).
Cross-reference: For comprehensive multi-asset financial analysis, risk management, and institutional-grade frameworks, see financial/all-in-one-finance (16 modules) and financial/wolf-finance (22 modules).
Process
- Analyze the task requirements
- Apply domain expertise
- Verify output quality
