By their very nature, hedge funds invest in high-risk and sometimes highly illiquid assets and companies. AccuVal is routinely retained to value partial interests in a bundle of investments and to evaluate investor positions in side pocket transactions. As an appraisal firm, we understand that the unique nature of many investments means sale information that is directly comparable is not always available. To address this challenge, AccuVal offers unique capabilities and perspective to each transaction – by drawing on our deep understanding of the industry surrounding the investment, we are able to render an opinion that is both supportable and independent. This independent opinion is crucial in the "mark-to-market" environment that accounting standards are moving to on a global basis. Our consulting services are also used for investment planning. We have served hedge funds in a variety of advisory capacities, including reviewing credit policies, providing industry consulting and crisis containment, as well as contributing insights to fair value committees.