Karen Miles

Karen Miles

Managing Director

Ms. Miles is a Managing Director and leader in Houlihan Lokey’s global Corporate Valuation Advisory Services practice and co-chairs the firm’s Technical Standards Committee, which determines the appropriate methodologies for dealing with valuation issues. Previously, she chaired the Director Development Panel of the Financial and Valuation Advisory business and served as a member of the firm’s Estate and Gift Tax Engagement and Review Committee. Ms. Miles is based in the firm’s Los Angeles office.

Ms. Miles has more than two decades of experience in valuation and financial consulting, with emphasis on the valuation of businesses, securities, and intangible assets. Her experience includes fairness opinions, solvency opinions, purchase price allocations, goodwill impairment analyses, valuations for transactions, financings, gift and estate tax planning, ESOPs, dissolutions, and litigation. Ms. Miles has consulted on ownership transition issues and liquidity alternatives. She has also testified as an expert witness in depositions and trials and has served as a court-appointed referee.

Before joining Houlihan Lokey, Ms. Miles was a principal at a Big Four accounting firm in its economic and financial consulting division, where for 10 years she specialized in valuation and litigation consulting. Before that, she was a financial analyst at a Fortune 500 corporation.

Ms. Miles has served on the International Valuation Standards Council (IVSC) committee on “Discounted Cash Flow Analysis for Market Valuations and Investment Analyses.” She also served on the Board of Directors for one of the Southern California chapters of the Association for Corporate Growth (ACG), and the Board of Directors of the Alzheimer’s Association, California Southland Chapter. 

In both 2019 and 2020, Ms. Miles was named to the Los Angeles Business Journal’s Top Women in Banking List. Additionally, she was named to the journal’s Leaders of Influence in Investment Banking List in 2020, and the Los Angeles Times recognized her as a Banking and Finance Visionary in 2021. Ms. Miles has also been a guest lecturer in the M&A Program at UCLA’s Anderson School of Management and has spoken on M&A- and valuation-related topics at the American Society of Appraisers’ Los Angeles Fair Value Conference and the WorldatWork Total Rewards Conference as well as ACG- and CommNexus-sponsored events. 

Ms. Miles writes frequently on the subject of valuation. Her noteworthy contributions include “Business Valuations,” a chapter in Litigation Services Handbook: The Role of the Financial Expert, Third Edition (New York: John Wiley & Sons; 2001); “The FASB May Add Spark to the Lackluster M&A Market” (ACG Network, 2001); “The Impact of Goodwill Impairment on Public Companies: The Early Adopters” (Shannon Pratt’s Business Valuation Update, 2002); “Analysis of Control Premiums by Synergistic and Nonsynergistic Buyers” (Shannon Pratt’s Business Valuation Update, 2002); “Benchmarking” (The Daily Deal, 2004); and “The Valuation of Earnouts and Acquired Contingencies Under SFAS 141(R)” (The CPA Journal, 2009).

Ms. Miles earned a B.A. in Business Administration at the University of Southern California and an MBA at UCLA’s Anderson School of Management. She is a Certified Public Accountant (CPA) and holds the Accredited in Business Valuation (ABV) credential. She is a member of the American Institute of Certified Public Accountants (AICPA) and the American Society of Appraisers (ASA). 

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