Pluris

What Pluris does

Pluris Valuation Advisors LLC is a New York-headquartered, privately held full-service valuation firm specializing in independent, third-party valuations of illiquid and hard-to-value securities. Founded in 2006 by Espen Robak (CFA) as an affiliate of Restricted Stock Partners (RSP) — the operator of the Restricted Securities Trading Network (RSTN) — the firm serves hedge funds, public and private companies, private equity funds, banks and institutions, high-net-worth individuals, and litigants. Services span restricted securities valuation (restricted stock, warrants, convertibles, PIPE/SPAC securities), auction rate securities and structured products, embedded derivatives, financial reporting valuations under ASC 820/FAS 157 (purchase price allocation, impairment testing, stock-based compensation, convertible bifurcation), tax valuations, estate and gift tax valuations, portfolio valuations for funds, TARP warrant valuations, and litigation support including expert witness testimony.

The firm's core technology stack rests on two proprietary databases: LiquiStat™, which captures valuation data from direct arm's-length secondary-market resales of restricted stock, warrants, options, convertibles, auction rate securities, structured products, bankruptcy claims, private company stock, and limited partnership interests (with exclusive ongoing access to RSP's RSTN trading data); and the Pluris DLOM Database™, containing over 3,000 private placement transactions from 2001 to 2010 with 80+ data points per transaction, distributed on subscription through ValuSource. These empirical databases underpin valuation conclusions grounded in market evidence rather than theoretical models alone, augmented by proprietary warrant and illiquid-security valuation models that adapt Black-Scholes-Merton, lattice/binomial, and Monte Carlo stochastic methods for illiquidity, moneyness, delta, issuer capitalization, and time to expiration.

Go-to-market is direct enterprise field sales: per-engagement professional services engagements billed across two portfolio-valuation report tiers (Level I summary exhibits for high-position-count portfolios; Level II position-by-position reports for large positions or larger funds), with optional Audit Protection coverage extending free support through IRS audits, appeals, and Tax Court. Marketing is content-led (articles, white papers, webinars, conference speaking at ASA, NACVA/IBA, Hedge Fund conferences) targeting institutional and valuation-professional buyers. The firm operates from offices in New York (HQ), Newport Beach, and San Francisco, with disclosed evidence of work spanning public companies, financial institutions, asset managers, law firms, insurance companies, and educational institutions. Revenue, ownership structure beyond RSP affiliation, and employee compensation data are not publicly disclosed.

Name

Pluris

Legal name

Pluris Valuation Advisors LLC

Website

https://pluris.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Pluris Valuation Advisors is a privately-held, New York-based valuation firm providing independent third-party valuations of illiquid securities (restricted stock, warrants, convertibles, ARS, structured products) for hedge funds, public/private companies, PE funds, banks, HNW individuals, and litigants, powered by proprietary LiquiStat and Pluris DLOM databases.

Ownership category

akta.pro rank

Product category

Financial Valuation Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Financial Reporting Valuation (ASC 820/805, IFRS 13/3) (FSAEAHAB)

akta.pro secondary industries

Purchase Price Allocation (PPA) & Intangible Asset Valuation (FSAEAHAF), Portfolio Valuation (PE/VC funds, LP reporting) (FSAEAHAH), ESOP & Equity Compensation Valuation (ESOP, options, warrants) (FSAEAHAN), Valuation & Purchase Price Allocation (Deal Valuation) (BPAHAOAK)

Keywords

• Restricted securities valuation
• Portfolio valuation services
• Illiquid securities valuation
• Financial reporting valuation
• Discount for lack of marketability

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Valuation Services: Pluris provides independent valuation services for illiquid securities, business valuations, and related assets. Services are billed on a per-engagement basis as professional services, including portfolio valuations, expert reports, litigation support, and compliance opinions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Pluris Valuation Advisors is an independent, third-party valuation firm that provides fair value opinions on illiquid and hard-to-value securities, business interests, and complex financial instruments for institutional clients. Its services cover restricted stock, warrants, convertibles, auction rate securities, structured products, distressed debt, limited partnership interests, and operating entities, and are supported by two proprietary databases — LiquiStat™ (market transaction data) and the Pluris DLOM Database™ (marketability discount data). Deliverables include portfolio valuations, financial reporting opinions (ASC 820, ASC 805, ASC 350, ASC 718), tax valuations, estate planning valuations, and expert litigation support.

Product overview

Pluris Valuation Advisors LLC is a full-service valuation firm specializing in illiquid and hard-to-value securities. The firm's offerings center on two proprietary databases—LiquiStat™ (market transaction data for restricted securities) and Pluris DLOM Database™ (marketability discount transactions)—which power a portfolio of valuation services including restricted securities valuation (stock, warrants, convertibles), auction rate securities valuation, financial reporting valuation (purchase accounting, impairment testing, embedded derivatives), tax valuation, portfolio valuation for hedge funds and private equity, estate planning valuations, and litigation support. The Pluris DLOM Database is distributed through ValuSource on a subscription basis. Services are delivered through Level I and Level II report formats for portfolio valuations, with optional Audit Protection coverage.

Differentiator

Problem solved

Functional benefit

Brands

• LiquiStat™: Proprietary database including valuation data from recent sales of illiquid assets: restricted stock, warrants, options, convertibles, auction rate securities, structured products, bankruptcy claims, private company stock, and limited partner interests
• Pluris DLOM Database™

Quantifiable outcome

• Over 3,000 DLOM transactions in proprietary database (2001–2010)
• +2 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• SecondMarketcoreStrategic or Co-development PartnerPluris maintains a close affiliation with SecondMarket professionals, leveraging their capital market expertise and secondary market trading data for fair value determinations of exotic or illiquid securities.
• ValuSourcecoreChannel Partner/ Reseller/ DistributorValuSource distributes the Pluris DLOM Database to the valuation professional community on a subscription basis. Pluris made the database available through ValuSource's web-based platform. Subscription sales contact: 800.825.8763.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Duff & Phelps (Kroll): One of the largest independent valuation and corporate finance advisors, with a dedicated portfolio valuation and complex-securities practice that directly competes with Pluris for hedge fund and PE fund mandates, including ASC 820 fair value work and DLOM analyses.
• Houlihan Lokey: Global investment bank with a substantial valuation services practice covering portfolio valuation, complex securities, and financial reporting opinions, competing for the same institutional fund and corporate clients as Pluris.
• Ankura Consulting: Global advisory firm with a valuation and forensic services practice that provides illiquid securities, complex financial instrument, and litigation valuation services to funds and corporations.
• BDO USA Valuation Services: Top-tier accounting firm's valuation group that competes for purchase price allocation, impairment, stock-based compensation, and embedded derivative valuation work for public and private companies.
• Deloitte Valuation Services: Big 4 valuation practice that performs financial reporting, tax, and complex securities valuations; competes for the largest ASC 820/805 and corporate-finance mandates that Pluris also targets.

Direct peers

• Valuation Research Corporation (VRC): Specialized independent valuation firm offering portfolio valuation, illiquid securities, and financial reporting valuations to investment funds and corporations — the closest large-scale direct peer to Pluris in the same niche.
• FMV Opinions (now part of Houlihan Lokey): Specialty restricted-stock and blockage-discount valuation firm where Pluris founder Espen Robak previously led the practice; directly comparable in service mix and client base to Pluris' restricted-securities business.
• Mercer Capital: Independent business valuation and financial advisory firm that performs restricted stock, DLOM, and estate/gift tax valuations — directly comparable specialty practice targeting similar corporate and high-net-worth clients.
• Willamette Management Associates: Independent valuation and financial advisory firm offering business valuations, intangible asset, and equity compensation valuations — directly comparable specialty services for tax, financial reporting, and litigation matters.

Others

• ValuSource: Distribution partner for the Pluris DLOM Database and provider of valuation-related software and data to the business valuation profession; adjacent ecosystem player that both complements and competes for DLOM data access.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/plurisvaluation
• LinkedInlinkedin.com/company/pluris-valuation-advisors-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds3 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pluris