Steve Darrington

Though FAS 157 only applies to US funds, fair value is still on the minds of GPs abroad. With the Private Equity Industry Guidelines Group's standards, the International Private Equity and Venture Capital Guidelines, and the International Financial Reporting Standards to choose from, GPs in Europe and elsewhere have no shortage of direction. Amanda Janis recently spoke with Steve Darrington, CFO of UK middle market firm Phoenix Equity Partners, on how adopting fair value has impacted his firm.