Permira acquires Duff & Phelps for $1.75bn

Selling shareholders include the Carlyle Group, Neuberger Berman, the University of California's investment office and Pictet & Cie.

Permira supported the transaction with equity from its €7.5bn buyout fund, Permira VI, which was 16% invested as of June 2017, according to unquote" data.

The company was taken private by a consortium comprising Carlyle, Stone Point Capital, Pictet and Edmond de Rothschild Group in 2013.

Stone Point, Edmond de Rothschild and Pictet sold or reduced their stakes in December 2015 when University of California acquired a minority position; both Carlyle and Duff & Phelps management increased their stakes.

Duff & Phelps is a global corporate finance adviser with headquarters in New York. It advises on a range of regulatory, M&A, real estate, restructuring and governance issues, and employs 2,500 people in 70 offices globally.

Debt for the transaction was arranged by UBS. Permira was advised by Skadden Arps Slate Meagher & Flom. The company was advised by Kirkland & Ellis, Lewis Bockius and Evercore. The selling consortium was represented by Wachtell Lipton and Rosen & Katz.

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• Topics
• Buyouts
• Industrials
• US
• Secondary buyout
• Permira
• Carlyle Group