Empire Valuation Consultants, LLC provided a valuation report estimating the fair market value of a 1% limited partnership interest in Black Family Partners, LP as of June 3, 2015. The valuation was conducted for estate planning purposes related to GRAT annuity payments for Mr. Leon Black. The report estimated the value at $19,700,000, using various valuation methodologies including the Income, Market, and Cost Approaches. The report detailed the assets and liabilities of the partnership, including investments in Apollo Operating Group units and other private equity and hedge fund interests. The report also discussed the impact of restrictions and marketability on the valuation.
documents/EFTA00608765.pdf
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