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  • Date of publication: 31 August 2020
  • 3355
  • businessbuysale.com
  • Investor group to buy financial services firm Duff & Phelps for $4.2 billion

    Synopsis

    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.

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Description

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.