Is there such a thing as variable-discount-rate DCF/NPV modeling? Like setting different discount rates for cash flow expected at different times? My discount rate is definitely not fixed.
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Replying to @vgr
Yes — for a public example you can take a look at analyst day presentations or sellside research for alternative asset managers
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Earnings from management fees are typically given a higher exit multiple / lower discount rate than earnings from incentive fees. So sellside analysts do sum of the parts
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Replying to @SGA_VC
Oh nice, thanks for the example
12:34 PM - 12 Jan 2020
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