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About us

We started as nine people counting inventory.

Twenty-eight years later the group appraises $31B of assets a year, holds its own paper, and still sends somebody into the building to count. Kestrel Global is independent and privately held.

Most advisory firms will tell you what an asset is worth. Very few will buy it from you at that number.

That difference is the whole design of this business. We began in 1998 appraising inventory for regional lenders, and every subsequent line of business exists because a client asked us to stand behind an opinion we had already given: to lend against it, to guarantee it, or to sell the thing ourselves.

So the group now holds a balance sheet, an auction platform, a licensing portfolio and roughly 600 field examiners — not because any of those is a good business on its own, but because together they mean the appraisal is tested against a real bid within ninety days.

We are deliberately not the largest firm in any of our markets. We are the one that will commit before the process closes.

$0B
Asset value appraised each year
0+
Professionals across the group
0
Offices on four continents
1998
Independent since

Figures for the year to March 2025.

How we operate

Four things we will not trade away.

  1. 01

    Underwrite the asset, not the story

    Every number we publish traces back to something we have sold, counted or walked through. Where the market data does not exist, we say so rather than modelling around the hole.

  2. 02

    Take the risk we are asking others to take

    We guarantee recoveries and hold our own paper. A firm that will not put its balance sheet behind an appraisal is selling an opinion, not a valuation.

  3. 03

    Speed is a form of accuracy

    Asset value decays on a schedule. A precise answer in ten weeks is usually worth less than a good one in ten days, and we structure the work accordingly.

  4. 04

    One roof, one accountability

    Appraisal, capital and disposition sit in the same group deliberately. It means the number we give you is the number we would trade on ourselves.

History

Twenty-eight years, in order.

  1. 1998

    Founded in Chicago as an inventory appraisal practice with nine people.

  2. 2001

    First retail disposition programme; the guaranteed recovery model follows a year later.

  3. 2004

    Capital Partners established to hold facilities underwritten on our own appraisals.

  4. 2009

    European headquarters opens in London. Real Estate Advisory launches the same year.

  5. 2013

    Brands begins acquiring consumer marks out of restructuring.

  6. 2018

    Asia-Pacific practice founded in Singapore.

  7. 2025

    34 offices, 1,400 professionals, and $31B of asset value appraised a year.

Where we are

9 offices, three regions.

Appraisers travel; the practice does not export well over video. Every region carries its own field teams, and the underwriting committee meets in Chicago every Tuesday regardless of where the collateral sits.

4
Americas
3
EMEA
2
APAC
Office details and contacts
  • CHI
  • NYC
  • TOR
  • SAO
  • LON
  • FRA
  • DXB
  • SIN
  • SYD

Leadership

The people who sign the paper.

All 12 leaders
  • Elena Vasquez

    Chief Executive Officer

  • Jonas Park

    President, Diligence & Advisory

  • Rachel Okafor

    President, Brands & IP

  • Marc Fontaine

    Head of Real Estate Advisory

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