Meet our Senior Team in Valuations & Opinions

I find immense fulfillment in enabling clients to achieve their objectives and navigate the complexities of today's ever-changing landscape.
Chris Croft
Managing Director & Co-Head of Transaction Opinions
New York
I enjoy sharing insights about market and valuation trends with my clients, while also leading a differentiated and high-touch process.
Brian Garfield
Managing Director & Head of U.S. Portfolio Valuations
New York
I enhance my clients’ decision making and governance processes by providing independent and objective financial advice in a highly responsive manner.
Chris Gregory
Managing Director & Co-head of Transaction Opinions
New YorkRecent Perspectives

AltAssets | PE-backed European Consumer Companies Close to Breaching Debt Covenants
Originally published by AltAssets on May 7, 2021. Consumer companies’ average EBITDA leverage levels from January to March were at 6.7x, with just 4% headroom available before breaching lenders’ covenants,… Read More

Webinar | Spring 2021 European Insights: Key Takeaways from our Capital Advisory, M&A, and Valuations & Opinions Groups
With one quarter of 2021 under our belts, Lincoln’s capital advisory, M&A and valuation & opinions professionals convened in a recent webinar to discuss current trends and their outlook for… Read More

Webinar | Spring 2021 European Insights: Key Takeaways from our Capital Advisory, M&A, and Valuations & Opinions Groups
With one quarter of 2021 under our belts, Lincoln’s capital advisory, M&A and valuation & opinions professionals convened in a recent webinar to discuss current trends and their outlook for… Read More

CFO Dive | Despite Gains in Hard-Hit Sectors, Be Realistic on Valuations
Originally published by CFO Dive on April 14, 2021. The outlook across sectors is better than expected, but forecasts must be achievable. When the pandemic began, CFOs tended to be… Read More

Webinar | Software Financings and the Rise of the Non-Bank Lending Market
On Wednesday, April 14, 2021, Lincoln International hosted a webinar to discuss the latest trends in software financings. With a shift in the market towards non-bank lenders, software businesses that… Read More

Webinar | Software Financings and the Rise of the Non-Bank Lending Market
On Wednesday, April 14, 2021, Lincoln International hosted a webinar to discuss the latest trends in software financings. With a shift in the market towards non-bank lenders, software businesses that… Read More

As the British Palate Diversifies, Investors Capitalize on South Asian Food Supplier Sector
While the UK’s grocery market has experienced little growth in recent years, the authentic South Asian cuisine market—offerings that incorporate ingredients, spices and food staples from India, Pakistan and Bangladesh—has… Read More

Q1 2021 Lincoln Senior Debt Index
The two primary risks in this asset class are interest rate risk and credit risk. For the quarter ending March 31, 2021, the Lincoln Senior Debt Index return was 2.4%… Read More

Webinar | Lincoln’s Valuations & Opinions Group: Q1 2021 Private Equity
On Thursday, March 25, 2021, a panel of Lincoln International professionals hosted a webinar discussing the following topics: Private Market Ev Trends Company Performance Trends and 2021 Outlook Market Update… Read More

Webinar | Lincoln’s Valuations & Opinions Group: Q1 2021 Private Equity
On Thursday, March 25, 2021, a panel of Lincoln International professionals hosted a webinar discussing the following topics: Private Market Ev Trends Company Performance Trends and 2021 Outlook Market Update… Read More

Webinar | Lincoln’s Valuations & Opinions Group: Q1 2021 Credit
On Wednesday, March 17, 2021, Lincoln International’s Valuations & Opinions Group hosted a webinar discussing private market EV trends, company performance trends and 2021 outlook, amendments and credit markets, fair… Read More

Webinar | Lincoln’s Valuations & Opinions Group: Q1 2021 Credit
On Wednesday, March 17, 2021, Lincoln International’s Valuations & Opinions Group hosted a webinar discussing private market EV trends, company performance trends and 2021 outlook, amendments and credit markets, fair… Read More

Private Debt Investor | Loan Note: Nominations Wanted for Women of Influence; Deal Market Bounces Back
Originally published by Private Debt Investor on March 15, 2021. Richard Olsen, Managing Director in Lincoln’s Valuations & Opinions Group, discusses why the deal market had a ‘pre-covid’ feel to… Read More

CFO Dive | Are Normalized Earnings Acceptable? A Deep Dive into EBITDA Adjustments during the Pandemic
This article originally ran on February 26, 2021 on CFO Dive. The challenges created by the pandemic have led CFOs to evaluate whether they should include incremental adjustments to Earnings… Read More

Private Equity News | LPs Beware: How Fair are PE Funds’ Valuations?
Originally published by Private Equity News on February 22, 2021. Richard Olsen, Managing Director in Lincoln’s Valuations & Opinions Group, provides his insights on a new study that has found… Read More
Lincoln International Releases Proprietary Q4 2020 Middle Market Index
Despite the challenges stemming from the pandemic, the concerted efforts of private equity funds, private debt lenders and their portfolio company management teams led to a substantial resiliency in private… Read More

Webinar | New Year Valuations Insights
Lincoln International hosted a webinar on February 3, 2021, led by our European Valuations, M&A and Debt Advisory experts discussing proprietary insights sourced from private companies into Q4 2020 valuations… Read More

Michael Minnis
Michael is a Senior Advisor to Lincoln’s Valuations and Opinions Group. He is a Professor of Accounting at the University of Chicago Booth School of Business, where he researches the… Read More

Steven Kaplan
Steven is a Senior Advisor to Lincoln’s Valuations and Opinions Group. He is the Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance and Kessenich E.P. Faculty Director at the… Read More

New Year Brings Hot Valuation Topics To The Forefront
There is a well-known saying: “There are decades where nothing happens; and there are weeks where decades happen.” Clearly, this is a reflection of what market participants experienced in the… Read More
2020 Year-End Results
In 2020, Lincoln completed a record number of transactions, generated record revenues and achieved growth in key strategic areas. This was driven by innovating around the complexities of doing deals during… Read More

Q4 2020 Lincoln Senior Debt Index
Since inception, the only quarter in which the Lincoln Senior Debt Index meaningfully declined was Q1 2020 due to the impact of COVID-19. Senior loans returned positive returns of approximately… Read More

Webinar | Lincoln’s Valuations & Opinions Group: Q4 2020 Credit
On Wednesday, December 9, 2020, Lincoln International’s Valuations & Opinions Group recently hosted a webinar discussing the state of the market, COVID-19 impact on private company fundamentals and amendments, and… Read More
Supply-Demand Imbalance Continues as Private Equity Looks to Deploy Capital in 2021
Pulse on Private Equity: Recent survey of more than 150 global private equity investors uncovers key trends heading into 2021. Sources: Mergermarket, Pitchbook

Webinar | Lincoln’s Valuations & Opinions Group: Q4 2020 Private Equity
On Wednesday, December 16, 2020, a panel of Lincoln International professionals hosted a webinar discussing the following topics: Market Recap COVID Impact on Private Company Fundamentals, Multiples, Enterprise Values and… Read More