Tobias Riley

• Company Overview: The corporate finance team at KPMG NZ offers a wide range of services, including the valuation of both public and private companies, option valuations, purchase price allocations, impairment testing, financial model development and reviews, and cost of capital advice
• The team is also involved in audit support, providing services such as valuation reviews, purchase price allocation reviews, and cost of capital reviews, among others
• As an analyst in the corporate finance team at KPMG, I’ve gained experience across all the service areas mentioned above, with a primary focus on valuations and financial modeling

Some of my key projects are outlined below

• Valuation of New Zealand Rugby Commercial Limited (approximately $3.5 billion enterprise value) for 2023 and 2024, which included DCF analysis, comparable company multiples, and comparable transaction analysis
• Secondment to The Orion Group to develop a financial model to track and forecast the company’s carbon emissions and support capital budgeting decisions aimed at achieving net-zero by 2050
• This involved collaborating directly with the Head of Sustainability to gather data and build the model
• Valuation of lessor interests for New Zealand Rural Land Company (approximately $400 million), including DCF analysis for 21 individual land parcels, such as forestry assets, dairy farms, and orchards
• The forestry assets also required carbon price scenario modeling, which was a crucial component of the valuation
• Financial model build on a sell-side M&A mandate for a self-storage company in the property sector (approximately $450 million enterprise value)
• The corporate finance team at KPMG NZ offers a wide range of services, including the valuation of both public and private companies, option valuations, purchase price allocations, impairment testing, financial model development and reviews, and cost of capital advice
• The team is also involved in audit support, providing services such as valuation reviews, purchase price allocation reviews, and cost of capital reviews, among others

• As an intern on the External Investments and Partnerships (EIP) team, my main responsibilities included conducting research and performing investment due diligence on potential fund managers
• The research focused on ESG and sustainability, specifically evaluating the sustainability credentials of various managers and providing recommendations on the minimum ESG standards that real asset managers should meet to be considered investable from the fund’s perspective
• The investment due diligence was part of the process of identifying suitable managers and funds to deploy capital for the fund’s new sustainable growth equity opportunity
• This included a successful investment in Generation Investment Management's Sustainable Solutions Fund XI