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A global group of investors led by Stone Point Capital and Further Global will buy financial services firm Duff & Phelps for $4.2 billion, the companies said on Wednesday.
The consortium is buying the New York-based firm, which advises clients on valuations, corporate finance, compliance and regulatory matters, from Permira Funds. Permira will retain a significant stake in the business after the deal.
As part of the transaction, which is expected to close in the second quarter of 2020, the Duff & Phelps management team will continue to lead the company and hold a “meaningful” stake.
The investor group has received financing for the transaction, which will be led by Goldman Sachs.
UBS Investment Bank, Goldman Sachs and Evercore served as financial advisers to Duff & Phelps, while Kirkland & Ellis was the legal adviser.
Simpson Thacher & Bartlett LLP and White & Case LLP were legal advisers to the investor consortium.