David Larsen is a managing director in the Alternative Asset Advisory practice, based in Seattle, Washington and a Duff & Phelps Institute Fellow. He has more than 35 years of transaction and accounting experience. He specializes in fair value accounting, specifically for valuation, accounting and regulatory issues faced by alternative asset managers and investors.

Prior to joining Duff & Phelps, David was a Partner in KPMG’s Transaction Services practice, where he was the segment leader of KPMG’s U.S. Institutional Investor practice. He served for 13 years in KPMG’s Seattle, Düsseldorf and Prague audit practices before moving full time to advisory work. 

David advises leading private equity managers and institutional investors and has advised numerous strategic and private equity acquirers in all areas of mergers, acquisitions, joint ventures, divestitures and valuation-related matters. He provides valuation policy and process assistance to a number of the world’s largest institutional limited partner investors and some of the world’s largest alternative investment managers. 

David is a member of the International Valuation Standards Council (IVSC) Standards Review Board, an advisor to and has served as Vice Chair of the International Private Equity and Venture Capital Valuations Board (IPEV), which in 2018 released updated its International Private Equity Valuation Guidelines, and serves as a member of the American Institute of Certified Public Accountants (AICPA) PE/VC Practice Guide Task Force. David’s past professional affiliation and advisory experience includes serving as a special advisor to the Institutional Limited Partners Association; board member, project manager and technical advisor to the Private Equity Industry Guidelines Group and was instrumental in developing and drafting the Private Equity Industry Guidelines Group’s Valuation and Reporting Guidelines; member of the Financial Accounting Standards Board’s Valuation Resource Group responsible for providing the board with input on potential clarifying guidance on issues relating to the application of the principles of FASB ASC Topic 820, Fair Value Measurements; and a member of the AICPA Net Asset Value Task Force. 

David received an M.S. in accounting from Brigham Young University’s Marriott School and his B.S. in accounting from Brigham Young University. He is a Certified Public Accountant licensed in California and Washington. David is a CEIV credential holder, is a member of the AICPA and the California and Washington Society of Certified Public Accountants and is a FINRA Series 7, 24 and 63 registered representatives.

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