The massive shocks sent by the Ukraine/Russia war through the financial markets have forced fund managers to reconsider their practices for valuing assets with exposure to Ukraine, Russia or sectors affected by the war. To help fund managers determine best practices and risk areas when valuing assets in times of crisis, Kroll Inc. – formerly known as Duff & Phelps – hosted a webinar exploring valuations in the private credit, real estate and energy sectors. The program featured Kroll managing directors David Larsen (alternative asset advisory); Ross Hostetter (portfolio valuation); Ryan McNelley (portfolio valuation); David Scott (portfolio valuation); and Ross Prindle (real estate advisory). This article summarizes the key takeaways from the webinar and provides guidance for fund managers attempting to update their fair value estimates to account for market disruptions. That includes, among other topics, how to estimate the short- and long-term impacts of market disruption; appropriate weighting of observable market transactions in a volatile public market; and a crisis’ impact on value drivers such as revenue, cost, growth, competition and market conditions. See “Coronavirus’ Impact on Valuation Results and IRR Calculations Highlights the Need for Backtesting and Remediation Measures” (Mar. 2, 2021); and “Independent Valuation Firms: As Scrutiny of Valuations Grows Throughout the Industry, so Does Their Importance (Part One of Three)” (Sep. 29, 2022).