It may be necessary to value an interest in a hedge fund for tax purposes or in connection with a business transaction or litigation. The approach used will depend on the context of the valuation and other considerations. A recent Marcum LLP program examined the unique considerations and common points of contention in valuing hedge fund interests. Marcum partner Elizabeth Ciccone moderated the discussion, which also featured partners Vladimir Korobov and Thomas Keane. This article distills their insights. See “Succession Planning Series: Selling a Hedge Fund Founder’s Interest to an Outside Investor (Part Two of Two)” (Jan. 16, 2014); and “Valuation and Confidentiality Concerns in Secondary Market Trading of Hedge Fund Interests” (Dec. 9, 2008).