Stout’s Jay Fishman Co-Authors ABA Guide on Private Market Valuation

Stout announced today that Jay E. Fishman, a Managing Director in the firm’s Valuation Advisory practice, is a co-author to a new publication from the American Bar Association (ABA), “A Lawyer’s Guide to Understanding Hedge Fund, Private Equity, and Venture Capital Valuation,” available June 9, 2026.

Co-authored by Kenneth J. Pia, Scott M. DeMarco, Vladimir V. Korobov, and Fishman, the guide is designed to help attorneys navigate the valuation complexities associated with hedge funds, private equity, and venture capital. Stout regularly advises clients on complex valuation matters across disputes, regulatory reviews, and transactions involving alternative investments.

The guide outlines key valuation methodologies, explains fee structures and carried interest, and provides a framework for evaluating valuation reports. It also offers practical insight for attorneys involved in litigation, regulatory matters, and transactions, including how to assess key drivers of value, identify areas of challenge, and analyze complex financial information.

“Valuation issues in private markets can get complicated quickly, especially in a legal setting,” said Fishman. “We wanted to create something that breaks these concepts down in a practical way so attorneys can ask better questions, understand what’s driving value, and feel more confident working through these analyses.”

Fishman is a recognized authority in business valuation, with decades of experience advising clients and serving as an expert witness in complex disputes. His contribution reflects Stout’s broader expertise in valuation and the law.

The book is available through the ABA.