Episode

Lincoln International's Brian Garfield - how is AI impacting private markets valuations?

Podcast
Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets
Published
Apr 30, 2026
Duration seconds
2856
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not_requested
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https://share.transistor.fm/s/7d09e1e6
Audio
https://media.transistor.fm/7d09e1e6/c1b2b75c.mp3
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Summary

Welcome back to the Alt Goes Mainstream podcast. Today’s episode dives into the nuances of the numbers to discuss valuations, underwriting, and the state of private markets. We sat down with Brian Garfield , Managing Director and Global Head of the Portfolio Valuations practice within Lincoln International ’s Valuations and Opinions Group. Brian provides valuation and transaction opinion services to public and private alternative asset managers. He leads a team of over 225 professionals, providing strategic oversight for the Global Portfolio Valuation practice which includes both our Portfolio Valuation and Asset Backed Finance teams situated across North America, EMEA and APAC. Brian’s team also produces the Lincoln Private Market Index, Lincoln Senior Debt Index, and Lincoln Default Index. Brian and his team specialize in estimating the fair value for an array of financial instruments, including direct investments in senior, unitranche and subordinated loans, as well as preferred equity, common equity, option and warrants. His expertise also includes valuing secondary fund interests, co-investments, and GP stakes. Prior to joining Lincoln, Brian spent more than six years at Duff & Phelps, LLC, where he advised a wide range of alternative asset managers. Brian and I had a fascinating conversation about the current state of valuations and underwriting in private markets. We discussed: How is AI impacting SaaS company valuations? Taking stock of the current fundamentals of private companies. Is the “iceberg of deals” melting? How indices and benchmarks are bringing a “deeper level of transparency than price” to a market. How is continuation vehicle activity impacting private markets? How has the growth of evergreen funds impacted the world of valuations? Thanks Bria…