Lorre F. Jay, Finance Expert in Bozeman, MT, United States
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Lorre F. Jay

Verified Expert  in Finance

Bio

Lorre has advised companies, private equity, and hedge funds on valuations and financial analyses for acquisitions, divestitures, investments, and restructurings. She develops detailed financial models to analyze companies and develop deal structures, price leverage, and value enhancement. She is successful in producing bulletproof results in highly scrutinized, high profile matters.

Career Highlights

Member of Board of Directors, Treasurer, Chair of Investments Committee, Audit Committee Member
Central Asia Institute
Managing Director
Portfolio Valuation Advisors, LLC
Managing Director
Duff & Phelps Corporation

Education Highlights

Master of Business Administration Degree
University of California
Bachelor of Business Administration Degree
University of Wisconsin

Certification Highlights

CFA Institute Research Challenge Judge
CFA Institute
CFA
CFA Institute

Case Studies

Work Experience

Adjunct Professor

2020 - PRESENT
Montana State University
  • Taught a large financial statement analysis class to undergraduate business school students. The course includes valuation, financial modeling, accounting, financial statement analysis, use of databases, financial information, behavioral finance, portfolio theory and CAPM, federal reserve actions, and stock and bond market movements.
  • Developed online teaching techniques and materials to increase student engagement during the pandemic.
  • Mentored and advised students.
Focus areas: Forecasting, Hedge Accounting, Accounting, Financial Statements

Member of Board of Directors, Treasurer, Chair of Investments Committee, Audit Committee Member

2020 - PRESENT
Central Asia Institute
  • Provided board-level oversight of operations, finances, financial audits, investment management of non-profit operating in developing countries.
  • Helped solve unique problems of providing educational and vocational opportunities to girls and young women in less developed countries.
Focus areas: Financial Planning & Analysis (FP&A), Budgeting, Investment Committee Advisory, Financial Modeling, Cash Flow Modeling, Cash Management, Management, Audits

Managing Director

2010 - PRESENT
Portfolio Valuation Advisors, LLC
  • Advised a client and client's attorneys and built an equity valuation model for negotiation of a partner buyout. Presented results to a mediator and critiqued opponent's valuation, resulting in a 400% increase in payment compared to the original offer.
  • Built a detailed financial model to value intellectual property and multiple classes of equity for a large private equity firm's portfolio company undergoing a turnaround. Successfully defended analysis with external auditors and regulators.
  • Advised a hedge fund CEO on the valuation of an investment in an eCommerce company. Built detailed financial model including return analysis, sensitivity analysis, risk assessment, market comparability, weighted average cost of capital and valuation. Prepared detailed report used to support tax position and presented findings to the CEO.
  • Served as the sole provider of valuation work for a large publicly traded tech company, with the scope of work including strategic analyses, valuations of acquired entities for financial reporting purposes (including intellectual property) and pre-acquisition valuations for the CFO.
  • Performed goodwill impairment valuation annually for a division of a public company in the technology sector.
  • Provided detailed financial statement valuation modeling with LBO scenarios to client for potential acquisition.
  • Performed detailed financial analysis of company in food and beverage industry including developing integrated financial statements, detailed financial analysis of competitors and development of multiple financial and non-financial performance metrics to predict forecast risk and success.
Focus areas: Purchase Price Allocation, Goodwill Impairment, Private Equity Valuation, Analysis, Financial Statements, Financial Planning & Analysis (FP&A), Mergers & Acquisitions (M&A), Valuation Multiples, Equity Valuation, Valuation Modeling, Valuation Analysis, Valuation

Managing Director

2007 - 2010
Duff & Phelps Corporation
  • Delivered a fairness opinion for KKR associated with a transaction involving KPE, its Amsterdam public entity, and the sell-down of ownership in Dollar General, HCA, Biomet, Nielsen, and First Data.
  • Valued complex investments on a quarterly basis for a large hedge fund for its financial and investor reporting. Developed unique valuation approaches for complex investments with uncertain fundamentals under tight time constraints such as valuing GMAC, a collateralized debt obligations (CDO) issuer, a Brazilian non-performing loan portfolio, an Indian financial services joint-venture, a Mexican specialty lender and a Mexican consumer products company. Presented and defended conclusions with clients' external auditors.
  • Developed client relationship to help a large multinational real estate firm with transfers of real estate and non-real estate holdings for a tax free reorganization. The project involved collaborating with several departments to produce a cohesive analysis and unified report.
  • Valued a joint venture between Cerberus and PNC Bank on an annual basis and presented the valuation report and results to the Board of Directors.
  • Managed projects to develop complex valuation and financial analyses on publicly traded companies, privately-held companies and portfolio companies of major hedge and private equity funds. Built complex models, prepared forecasts, performed due diligence, defended analyses with external auditors and regulatory agencies, and presented the results to boards of directors and audit committees.
  • Developed firm's response to Hedge Fund Best Practices for Chair of Asset Managers Committee to the U.S. President's Working Group on Financial Markets.
Focus areas: Finance Strategy, Precedent Transaction Analysis, Corporate Insolvency, Fairness Opinion Reports, Financial Asset Impairment Models, Financial Modeling, Private Equity Valuation, Equity Valuation, Valuation Multiples, Valuation Analysis, Valuation Modeling

Director

2000 - 2007
Houlihan Lokey
  • Prepared valuation analyses for a large client in the buyout of private shares of the Bank for International Settlements (BIS). Presented findings to the tribunal in the Hague. Client received a price more than 60% higher than what BIS had originally offered.
  • Led a valuation team to prepare a report for a publicly-traded tech company's acquisition of a target company for its pre-merger notification filing to the Federal Trade Commission and the Department of Justice.
  • Established a regional tax and financial reporting (TFR) valuation team of eight and grew revenue five-fold over a three-year period.
  • Led TFR Technical Standards Committee and led the team to develop firm-wide standards for financial reporting valuation models. Authored a white paper on international and emerging market cost of capital. Appointed to TFR Pricing Committee.
  • Assisted a board member with European expansion strategy, including preparing a strategic plan and introducing a colleague was then selected to lead the European office.
  • Prepared a detailed three-statement financial model to assess capital sufficiency, returns, risk, and market comparability for a large company undergoing a restructuring.
  • Developed and built standardized models for valuing businesses, equity and intangible assets which successfully passed reviews by audit firms, SEC, IRS and regulatory agencies.
  • Originated and led fairness and solvency opinion projects. Appointed to Fairness Technical Review Committee and reviewed fairness opinions for other teams.
Focus areas: Strategic Planning & Execution, Corporate Insolvency, Fairness Opinion Reports, Financial Restructuring, Equity Valuation, Private Equity Valuation, Private Company Valuation, Valuation Multiples, Valuation Modeling, Valuation Analysis, Mergers & Acquisitions (M&A), Valuation

Senior Manager

1993 - 2000
Ernst & Young, LLC
  • Ran valuations of private companies, intangible assets and equity for tax and financial reporting purposes.
  • Led team to run training for over 100 undergraduate and graduate new hires.
  • Performed due diligence, financial statement analysis, and developed cost of capital and valuation multiples for client companies.
  • Started up the healthcare valuation group which liaised with audit staff to provide valuation serves to major health care entities in the New York area.
  • Developed valuation models, including discounted cash flow analysis, public company analysis, transaction analysis, and financial statement analyses, and performed due diligence on client companies.
Focus areas: Private Company Valuation, Asset Valuation, Equity Valuation, Valuation Analysis, Valuation Multiples, Valuation Modeling
1991 - 1994

Master of Business Administration Degree in Finance, International Business

University of California - Los Angeles, CA

1980 - 1985

Bachelor of Business Administration Degree in Finance

University of Wisconsin - Madison, WI

JANUARY 2019 - PRESENT

CFA Institute Research Challenge Judge

CFA Institute

OCTOBER 2017 - PRESENT

UCLA Mentor

University of California

JUNE 1993 - PRESENT

CFA

CFA Institute

Finance

Due Diligence, Leveraged Buyout Modeling, M&A (Buy-side), Valuation, Financial Modeling, Revenue & Expense Projections, M&A Modeling, M&A Earn-out Agreements, Equity Research, Forecasting, Private Equity Valuation, Three-statement Modeling, DCF Valuation, Equity Valuation, Mergers & Acquisitions (M&A), Valuation Analysis, Valuation Modeling, Valuation Multiples, Financial Planning & Analysis (FP&A), Purchase Price Allocation, Financial Asset Impairment Models, Fairness Opinion Reports, Finance Strategy, Private Company Valuation, Financial Restructuring, Asset Valuation, Cash Management, Cash Flow Modeling, Budgeting, Accounting, Hedge Accounting, Comparable Company Analysis

Output Software

Microsoft Excel, Microsoft Word, Microsoft PowerPoint, Excel 2016

Data & Analysis Software

FactSet, Capital IQ

Industry Expertise

Industrials, Building Materials, Food & Beverage, Financial Services, Technology, Healthcare

Geographic Expertise

United States, Europe, Eastern Europe

Other

Manufacturing, Excel Modeling, Acquisition Analysis, Divestitures, Financial Analysis, Fintech, Leveraged Buyout (LBO), Strategic Planning & Execution, Business Models, Fair Value in Reporting, DCF Modeling, Creative Problem Solving, Financial Statements, Analysis, Goodwill Impairment, Corporate Insolvency, Precedent Transaction Analysis, Audits, Management, Investment Committee Advisory, Strategy, Relative Valuation, Financial Data Analytics

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