Duff & Phelps Sold To Private Equity Titan For $1.75 Billion

Tom Burroughes

2 November 2017

A company backed by funds from private equity giant , a statement from Permira said yesterday.

The Duff & Phelps management team will maintain a “significant” equity stake in the firm and will continue to lead the company in their current roles. The transaction is subject to customary conditions and is expected to close in the first quarter of 2018, the statement continued.

The organization advises clients in areas such as valuation, corporate finance, disputes and investigations, compliance and regulatory matters, and other governance-related issues. About 2,000 client service professionals work for it, located in the Americas, Europe and Asia. Duff & Phelps has, for example, taken a prominent role in charting threats from cyber-criminals, an issue high on the agenda for wealth management firms, private banks and family offices. (See an example of its research here.)

“As we continue to execute on growth opportunities, we are confident that our clients and employees alike will benefit from this partnership with Permira – a firm with an outstanding track record of providing strategic support, as well as sector expertise, to its funds’ portfolio investments,” Noah Gottdiener, chief executive of Duff & Phelps, said.

Carlyle’s equity for the investment came from Carlyle Global Financial Services Partners II, Carlyle’s dedicated financial services investment fund.

UBS Investment Bank acted as exclusive financial advisor to the Permira funds and provided committed financing; Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor. Evercore acted as the financial advisor to Duff & Phelps; Kirkland & Ellis and Morgan, Lewis & Bockius acted as legal advisors to that organization. Wachtell, Lipton, Rosen & Katz acted as legal advisor to Carlyle, Neuberger Berman, University of California.