DUFF & PHELPS acquired by PERMIRA

Duff & Phelps has been acquired by a vehicle of the Permira funds. The transaction was announced in December 2017 and is subject to customary closing conditions, with completion expected in the first quarter of 2018. Existing shareholders, including The Carlyle Group, Neuberger Berman, the University of California’s Office of the Chief Investment Officer of the Regents and Pictet & Cie, will divest their holdings, while the current management team will retain a significant equity position and continue in their operational roles. The acquisition follows a multi‑year process involving exclusive financial advisers and legal counsel on both sides. Permira is pursuing the acquisition to augment its portfolio of financial‑services businesses and to leverage Duff & Phelps’ global advisory platform. The firm views the target’s extensive client relationships, scale of professional staff, and presence in the Americas, Europe and Asia as assets that complement its investment thesis of supporting high‑growth, knowledge‑intensive companies. Permira’s prior investments in Alter Domus, Tricor and other financial‑services firms provide a framework for value creation, and its international network and sector expertise are expected to facilitate organic expansion and bolt‑on acquisitions for Duff & Phelps. Post‑closing, Duff & Phelps is expected to integrate Permira’s capital resources and strategic guidance to broaden its service offering, accelerate entry into under‑penetrated markets, and enhance cross‑sell opportunities with other portfolio companies. The combined entity aims to increase its capacity to serve corporations, private‑equity sponsors, law firms and hedge funds with valuation, dispute, and regulatory advisory work, thereby strengthening its market position and generating incremental fee revenue. The transaction also positions Duff & Phelps to capitalize on heightened regulatory scrutiny and demand for independent valuation across jurisdictions, supporting its ambition to increase headcount and develop digital analytics tools.