IPEV > IPEV Board

IPEV Board

Objectives

The objectives of the IPEV Members are to provide high-quality, uniform, globally-acceptable, best practice, principles-based valuation guidelines for private equity and venture capital practitioners in order to assist their compliance with accounting and regulatory requirements, in a form that is simple for all practitioners, regardless of size, to implement.

Timo Strunkmann-Meister

Chair of the IPEV Board and IPEV Board Member

Senior Director and Head of the Fund Operations
Capital Dynamics (CH)

Timo is a Senior Director and Head of the Fund Operations team. He also serves as Chairman of Capital Dynamics’ Global Valuation Committee and is a founding member of Invest Europe’s working group on accounting standards, valuation and reporting.

Prior to joining Capital Dynamics, he worked for 10 years as a senior manager at KPMG in Frankfurt where he was part of the firm’s private equity practice specializing in the audit of portfolio companies. While at KPMG, Timo held various positions including sector manager for the private equity activities of KPMG’s German audit function and in KPMG’s Mergers & Acquisition Tax Service Line focusing on tax due diligence and tax structuring.

Timo holds a master’s degree in Business Economics from the University of Cologne and an MBA from Eastern Illinois University, which he attended as a Fulbright Scholar. Timo also holds the professional designation of Certified Public Accountant (CPA) as well as that of a German Public Tax Advisor and has successfully passed the examination as a German Certified Public Accountant.

 

Paul Cunningham

IPEV Board Member

Chief Financial Officer
Helios Investment Partners (UK)

In his role as Chief Financial Officer, Paul has overall responsibility for all matters relating to accounting, financial control, taxation, fund administration and reporting and regulatory compliance for the Helios group entities.

Paul is a highly experienced private equity finance and administration executive, having served as Chief Financial Officer and Chief Operating Officer for Barclays Private Equity for 6 years prior to joining Helios in May 2008, and as Director, Head of Finance & Product Control Projects at Barclays Capital before that. His responsibilities at Barclays Private Equity included the reporting and administration of various managed funds as well as internal reporting/administration for BPE's proprietary business.

Paul was also a member of the BVCA Taxation committee. Prior to joining Barclays, Paul has worked within the finance functions of various major Investment Banks, including Deutsche Bank and Credit Suisse, since qualifying as a Chartered Accountant with Ernst & Whinney in 1989.

Paul graduated with a BSc (Hons) in Mathematics from Imperial College.

 

Enguerran de Crémiers

IPEV Board Member

Managing Director
Kroll (FR)

As a Managing Director at Kroll in Portfolio Valuation, Enguerran specializes in the valuation of illiquid securities and equity interests for alternative asset managers, investment firms, family offices, and financial institutions. His expertise includes the valuation of common and preferred equity shares (private equity & venture capital), private debt, infrastructure, and special situation investments. Additionally, Enguerran assists alternative fund managers in establishing valuation policies and procedures that comply with investor and regulator standards of top-tier governance and independence. Prior to joining Kroll, Enguerran was a Senior Manager at PwC in Transaction Services and an Auditor at Deloitte.

He is an active member of several valuation associations and teaches advanced courses in valuation, corporate finance and financial analysis at various business schools, universities, and at France Invest.

Enguerran graduated from ESSEC Business School in Paris.

 

Karla Bullard

IPEV Board Member

Principal and Chief Financial Officer
Madison Dearborn Partners LLC (USA)

At Madison Dearborn, Karla has responsibility for managing the accounting and tax departments, the investment valuation process, portfolio performance reporting and the treasury function.

Prior to joining Madison Dearborn Partners, Karla served as a Managing Director and Chief Financial Officer of Deerfield Capital Management, an alternative asset management company. She also served as the Vice President of Finance with JP Morgan Chase managing the accounting, budgeting and management reporting for its proprietary investing department, which included its private equity portfolio among other investment types.

Karla began her career with Arthur Andersen LLP, focusing on the financial services sector. She is a Certified Public Accountant and has a MBA from the University of Chicago and a Bachelors of Science in Accounting from the University of Illinois.

 

James Lilico

IPEV Board Member

Senior Portfolio Manager, Private Equity
Australian Retirement Trust (AU)

James Lilico joined Australian Retirement Trust in 2010 and is a Senior Portfolio Manager in the Private Equity asset class. His responsibilities include portfolio strategy, portfolio management, investment and manager selection, and ongoing investment management of fund, co-investment and direct assets in Australia and offshore.

James has over 20 years’ experience in investment management and financial markets.

Prior to joining Australian Retirement Trust, he worked in the investment team at RMB Capital Partners, an Australian mid-market PE firm, where James carried out industry and company research, evaluation of new investment opportunities and transaction execution as well as providing strategic support to portfolio companies. Previously, James worked in the corporate finance team at Grant Samuel, an Australasian investment bank where he was involved in a variety of assignments including M&A, debt structuring, capital raisings and strategic reviews. In addition, James has worked at the Australian Private Equity and Venture Capital Association.

James holds a Bachelor of Science in Finance and a Master of Science in Decision and Information Sciences from the University of Florida. He is also a CFA Charterholder and a member of the Australian Institute of Company Directors.

 

Vikas Karlekar

IPEV Board Member

Group Finance Director
ICG PLC (UK)

In his role as Group Finance Director, Vikas has overall responsibility for all matters relating accounting, financial reporting, regulatory reporting, and planning and forecasting, across the ICG Group entities.

Vikas previously spent ten years at Barclays in a series of pan finance leadership roles, including Global Finance Controller for Barclays International Division, managing all aspects of financials, key accounting decisions, valuations, driving technology and process improvements, and leading key regulatory relationships. Prior to this, he spent 13 years at UBS Investment Bank, in both London and New York in various finance leadership roles. Vikas qualified as a chartered accountant with KPMG.

Vikas also serves as a non executive board member and member of the audit and risk committee of RIT PLC, a UK listed investment trust deploying across private and public markets.  Additionally, Vikas is a member of the Board and Treasurer of Pepal Foundation, a charity focused on bringing together NGOs and global corporations to develop leaders and find practical solutions to challenging social issues.

 

Chris Barnes

IPEV Board Member

Partner and Chief Operating Officer
Atomico (UK)

Chris Barnes is Partner and Chief Operating Officer at the London-headquartered venture capital firm Atomico, investing in game changing technology companies. Based in London, he works across all aspects of Atomico’s operations. He oversees portfolio management, fund management, investor relations, resource allocation, recruiting, finance, legal and HR. Chris joined Atomico from private equity company Terra Firma, where he was CFO and a member of the Investment and Management Committees. Prior to Terra Firma, Chris worked in the Private Equity group at Arthur Andersen for 10 years.

 

Melissa Dickerson

IPEV Board Member

Chief Financial Officer and Managing Director of Operations
Genstar Capital (US)

Melissa is the Chief Financial Officer and Managing Director of Operations at Genstar Capital, a middle-market private equity firm founded in 1988. She has held this role since joining the firm in 2004. Over her tenure, Melissa has been instrumental in building the firm's operational infrastructure, guiding its growth from $200 million to $49 billion in assets under management. With over 25 years of experience in middle-market private equity, including more than 20 years at Genstar, Melissa has managed multiple teams in her roles as Chief Financial Officer (current), Chief Compliance Officer (January 2012 to June 2019), and Managing Director of Operations (current).

Melissa has received notable accolades for her contributions to the industry. In 2025, she was highlighted by PE Hub and Buyouts in their Women in Private Equity 2025 special report and received an honorable mention in The Middle Market’s special report on the 2025 Most Influential Women in Mid-Market M&A. Previously, she was named as a Top Female Deal Maker in the Wall Street Journal in 2019, featured in Pitchbook’s Women in PE article in 2019, and included in Bold Business’ top 10 women in PE in 2018.

Melissa is actively involved in several professional organizations. She serves on the Board of Directors for the American Investment Council (AIC) and is a member of the Business and Strategy Council for Vassar College. Additionally, she was formerly on the Advisory Council for the Center for Equity, Gender, and Leadership at UC Berkeley's Haas School of Business.

Melissa holds an MBA from the University of California, Berkeley, Haas School of Business, and a BA from Vassar College.

 

Frédéric Docquier

IPEV Board Member

Head of Business Control
Sofina (BE)

As Head of the Business Control at Sofina, Frédéric Docquier focuses primarily on the controlling and reporting activities of Sofina, with a particular emphasis on the valuation process of unlisted portfolio companies. These companies range from early stage to growth equity and span diverse sectors and geographies.

Prior to joining Sofina, Frédéric was actively involved in the valuation field, working as a shareholder valuation consultant at PwC London and holding various roles in mergers and acquisitions across several companies.

Frédéric holds a Master of Science in Management (Finance) and is a Certified International Investment Analyst (CIIA). Additionally, Frédéric is a member of the Luxembourg Valuation Professionals Association (LVPA).

 

Daniel Gregor

IPEV Board Member

Head of Finance for PE Fund Investments & Investment Reporting
Allianz Capital Partners (DE)

As Head of Finance, Daniel is responsible for the controlling and accounting, fund administration and business intelligence departments. He was also seconded to the World Economic Forum in 2012 to work on a project aimed at developing future social protection systems.

Prior to joining Allianz Capital Partners in 2010, Daniel was a portfolio manager at von Braun & Schreiber Private Equity Partners.

Daniel has a Bachelor of Business Administration from the University of Applied Sciences Augsburg.

 

Merijn Klaassen

IPEV Board Member

Chief Financial Officer & Chief Operating Officer
EQT Life Sciences (NL)

Merijn Klaassen joined LSP, the predecessor firm of EQT Life Sciences, in 2008 in their Amsterdam office. He is responsible for all financial and administrative affairs connected with the investments and divestments of the portfolio companies, including financial due diligence and fund-related matters.

Before joining EQT Life Sciences, Merijn held various Finance functions at Amgen and Philips Electronics.

Merijn has an MA Economics degree from the University of Tilburg and an MSc in Industrial Engineering and Management Science from Twente University. He is a chartered controller (RC) in the Netherlands and holds the Chartered Alternative Investment Analyst (CAIA) designation. Furthermore, he is a Financial Risk Manager (FRM) certified by the Global Association of Risk Professionals.

 

Olivier Michelon

IPEV Board Member

CFO Funds & Head of Operations
Partech (FR)

Olivier Michelon is CFO Funds & Head of Operations at Partech, a global investment platform backing tech and digital companies at early stage of growth. He leads fund administration and valuation across an international portfolio of over 220 companies based in 40+ countries, spanning early, venture and growth strategies with a strong presence in Europe and Africa.

He began his career has financial auditor at PricewaterhouseCoopers in Paris and brings nearly 15 years of experience in private equity, having held similar roles at Edmond de Rothschild Private Equity and Eurazeo.

Olivier holds a Master's degree in Audit and Accounting from ESSCA Business School.

 

Christoph Ruedig

IPEV Board Member

Partner
Albion Capital (UK)

Christoph Ruedig is a partner and member of the investment committee at Albion Capital Group, a leading UK Venture Capital Fund manager. Prior to joining Albion in 2011, Christoph worked at 3i Group, General Electric and Bain & Company. Christoph holds a doctorate in medicine from Ludwig-Maximilians University, Munich and an MBA from INSEAD.

 

Olly Willis

IPEV Board Member

Head of Fund Operations - Managing Director
Permira Advisers LLP

Olly Willis is a Managing Director and Head of the Private Equity Fund Operations team, with oversight of Fund Finance, Valuations and Transaction Operations for the Permira funds and their portfolio holding structures.

Prior to joining Permira in 2018, Olly spent 8 years with AnaCap Financial Partners, working in the Fund Operations and Finance teams. Prior to that he spent four years with BDO.

Olly holds a degree in Mechanical Engineering from the University of Nottingham, England, and is a member if the Institute of Chartered Accountants in England & Wales.”

 

David Larsen

Adviser to the IPEV Board

Managing Director
Duff & Phelps (US)

David Larsen has over twenty years of transaction experience and has advised numerous strategic and private equity acquirers in all areas of mergers, acquisitions, joint ventures, and divestitures.

Prior to joining Duff & Phelps’ Corporate Finance Consulting group, David was a Partner in KPMG LLP’s Transaction Services practice, where he was the segment leader of KPMG’s US Institutional Investor practice. He served 13 years in KPMG’s Seattle, Washington; Düsseldorf, Germany; and Prague, Czech Republic audit practices prior to moving full time to deal work. He is a special advisor to the Institutional Limited Partners Association.

David is a Board Member, project manager and technical advisor to the Private Equity Industry Guidelines Group and was instrumental in developing and drafting the PEIGG Valuation and Reporting Guidelines. He is a member of FASB’s Valuation Resource Group responsible for providing the Board with input on potential clarifying guidance on issues relating to the application of the principles of FASB Statement No. 157, Fair Value Measurements.

David obtained his Masters of Science in Accounting at Brigham Young University. He is a Certified Public Accountant (CPA), licensed in the States of California and Washington.

Past Chair's

 

 

2016-2025

 

Paul Cunningham

Helios Investment Partners (UK)


 

2012-2015

 

Emile van der Burg

Senior Advisor to the industry


 

2005-2011

 

Herman Daems

BNP Paribas Fortis