U.S. organizations must now estimate (measure) the fair value of their alternative investment holdings as per FASB Statement Number 157, for US GAAP reporting purposes.

This standard applies to U.S. investors (i.e. limited partners) as well as funds (i.e. general partners)

The new U.S. core concept for measuring the fair value of alternative investments is "the price would be received to sell an asset or paid to transfer a liability in an orderly transaction between participants at the measurement date "(Source: FASB Statement Number 157)."

Click FASB 157 for a copy of the updated U.S. Private Equity Guidelines (March 2007)

In response , OffRoad Research, a division of NYPPEX, has expanded its fair value pricing services and now provides independent Fair value estimates for direct investments in private companies and interests in private partnerships.