Business Wire

Duff & Phelps to be Acquired by the Permira Funds for $1.75 Billion

Jaa

Duff & Phelps, the premier global valuation and corporate finance advisor, and Permira, the global private equity firm, today announced that a company backed by the Permira funds has agreed to acquire Duff & Phelps for $1.75 billion. Selling equity holders include The Carlyle Group, Neuberger Berman, the University of California’s Office of the Chief Investment Officer of the Regents and Pictet & Cie. As part of the transaction, 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.

Duff & Phelps advises clients on a range of strategic and complex business challenges in the areas of valuation, corporate finance, disputes and investigations, compliance and regulatory matters, and other governance-related issues. The firm has approximately 2,000 client service professionals located throughout offices in the Americas, Europe and Asia, with longstanding client relationships that include more than 50% of the companies in the S&P 500, and more than 70% of top-tier private equity firms, law firms and hedge funds.

Noah Gottdiener, Chief Executive Officer of Duff & Phelps, commented, “This transaction affirms that Duff & Phelps has built a global and diversified franchise that helps clients protect and enhance their value. 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. Our clients are entering new markets and facing new opportunities and challenges every day, so we are excited to have the backing of the Permira funds as we continue to expand our range of services and global footprint, particularly in Europe and Asia.”

Mr. Gottdiener added, “We are grateful to the Carlyle team in addition to University of California, Neuberger Berman and Pictet for their support and guidance. They have played an integral role in helping us to execute our growth strategy.”

“Companies of all sizes and across all industries demand sound, objective and independent counsel to help them execute their most important business decisions – a demand that has grown exponentially since the financial crisis,” said Nic Volpi, Partner at Permira. “Duff & Phelps is uniquely positioned to meet this demand as one of the only firms offering a full suite of advisory and consulting services with deep client relationships, meaningful scale and brand strength. We have great respect for Duff & Phelps’ cohesive culture and its team of professionals whose depth of knowledge, impartial judgment and technical expertise have made the firm a global leader. We are very excited to support Duff & Phelps’ proven management team as it continues to deliver operational excellence for its clients.”

The Permira funds’ investment will support Duff & Phelps as it pursues the many growth opportunities arising from clients’ increasing need for advisory services, due to factors including heightened regulatory oversight, new accounting standards, improved corporate disclosure practices and greater demand for fair value and third-party valuation assessments. Permira will also leverage its international footprint to support Duff & Phelps’ continued global expansion both organically and through strategic acquisitions.

Permira has an established track record of successfully partnering with market leading financial and professional services businesses and their management teams to help strengthen their positions as pre-eminent leaders. The acquisition of Duff & Phelps marks the Permira funds’ eighth investment in the financial services industry, totaling over $3.8 billion of equity invested.

John Redett, Managing Director and Co-head of the Carlyle Global Financial Services sector team, said, “We wish Noah and his team all the best as they continue to execute upon their strategic vision and business plan and are thankful to have played a part in their success. During our four-and-a-half-year partnership, we more than doubled EBITDA and positioned the company for long-term success. We firmly believe in Duff & Phelps’ business model, the strategic value they deliver to clients and their ability to continue capitalizing upon the vast opportunity ahead.”

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

Permira advisors: 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.

Duff & Phelps advisors: Evercore acted as the financial advisor; Kirkland & Ellis and Morgan, Lewis & Bockius acted as legal advisors.

Carlyle, Neuberger Berman, University of California advisors: Wachtell, Lipton, Rosen & Katz acted as legal advisor.

About Permira

Permira is a global investment firm that finds and backs successful businesses with growth ambition. Founded in 1985, the firm advises funds with a total committed capital of approximately €32 billion (US$35 billion). The Permira funds make long-term investments in companies with the ambition of transforming their performance and driving sustainable growth. In the past 32 years, the Permira funds have made over 200 private equity investments in five key sectors: Consumer, Financial Services, Healthcare, Industrials and Technology.

The Permira funds have a long track record of investing in market leading financial services businesses. Current investments in the sector include specialist fund administrator Alter Domus, Asian corporate and investor services firm Tricor, pension annuities specialist Just Group, online legal services provider Legalzoom, private client wealth manager Tilney, receivables manager Lowell Group and payroll software provider P&I. Permira employs over 200 people in 14 offices across North America, Europe and Asia. For more information, please visit: www.Permira.com.

About Duff & Phelps

Duff & Phelps is the premier global valuation and corporate finance advisor with expertise in complex valuation, disputes and investigations, compliance and regulatory consulting, M&A, real estate, restructuring and other governance-related issues. The firm’s more than 2,000 employees serve a diverse range of clients from offices around the world. For more information, visit www.duffandphelps.com.

About The Carlyle Group

The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with $174 billion of assets under management across 306 investment vehicles as of September 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents. www.carlyle.com

About the University of California’s Office of the Chief Investment Officer of the Regents

The University of California’s Office of the Chief Investment Officer of the Regents manages over $110 billion including the UC Endowment, Pension, Retirement Savings, Working Capital and Captive Insurance. The office serves 265,000 UC students and more than 312,000 current and former UC employees from 10 campuses, 5 medical centers and three national laboratories.

About Neuberger Berman Private Equity

Neuberger Berman Private Equity is a leading global private equity investor with over 30 years of experience and has managed over $50 billion of commitments since inception through September 2017 across (i) private equity fund investments in the primary and secondary markets, (ii) direct equity co-investments and debt investments in private equity-owned companies and (iii) a number of specialty strategies including asset management minority stakes, brand royalties, European merchant banking and healthcare credit investments. Its dedicated team of over 120 professionals has a global presence with offices in the U.S., Europe, Asia and South America. Neuberger Berman Private Equity has committed approximately $5 billion on average annually to private equity funds and direct investments over the past three years.

Contact information

For Permira:
Noémie de Andia, +44 (0) 207 632 1159
Global Head of Communications
or
Sard Verbinnen & Co.
Brooke Gordon/Devin Broda/Julie Rudnick
+1 212 687-8080
or
For Duff & Phelps:
Marty Dauer, +1-212-871-2116
Chief Marketing and Communications Officer
or
For Carlyle:
Elizabeth Gill, +1-202-729-5385
Elizabeth.gill@carlyle.com
or
For University of California’s Office of the Chief Investment Officer of the Regents:
Dianne Klein, +1-510-987-9200
Dianne.Klein@ucop.edu
or
For Neuberger Berman:
Alexander Samuelson, +1-212-476-5392
Head of Media Relations
Alexander.Samuelson@nb.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

PTC Adds Artificial Intelligence and Generative Design Capabilities to Enhance and Expand its CAD Portfolio with Acquisition of Frustum20.11.2018 15:12Tiedote

PTC (NASDAQ: PTC) today announced that it has acquired Frustum Inc., an advanced generative design software company, for approximately $70 million. Frustum’s technology for generative design—an approach that leverages artificial intelligence (AI) to generate design options—is a transformative addition to the PTC Creo portfolio. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181120005326/en/ PTC Adds Artificial Intelligence and Generative Design Capabilities to Enhance and Expand its CAD Portfolio with Acquisition of Frustum (Graphic: Business Wire) Based in Boulder, Colorado, Frustum offers patented desktop and cloud-based engineering software that enables designers and engineers to go beyond the limits of their personal experience by leveraging powerful AI capabilities that guide the discovery of high-performance, next-generation product designs. “PTC is pushing the boundaries of innovation with this acquisition,” said Jim

United First Partners Launches UFP Fintech20.11.2018 15:00Tiedote

United First Partners (“UFP”), a leading independent Research, Brokerage, Advisory & Investment group is pleased to announce the launch of its latest venture: UFP Fintech. UFP Fintech invests in early stage Fintech, Proptech and Legaltech startups. Under the leadership of the entity’s CIO Christophe Petetin, a veteran investor in the Fintech space with an unparalleled investment track record in Fintech start-ups, UFP Fintech aims to become a global leader in Early Stage Fintech Investments. In recent years, Christophe and the UFP Fintech team have seeded a major unicorn and several other market leading entities. Christophe is a premier Fintech thought leader, who also acts in an advisory capacity to governmental and regulatory bodies, such as the FCA and ISO 20022 to create the next generation of standards for Fintech, payments, data, securities & digital currencies. Christophe commented “The financial industry is getting rebuilt from the ground up creating unprecedented opportunities.

LEO Pharma and PellePharm Announce $760 Million Collaboration to Advance Innovative Therapies for Rare Skin Diseases20.11.2018 14:00Tiedote

Danish dermatology specialists LEO Pharma and California rare disease pioneers PellePharm today announced a strategic development and commercialization collaboration to address unmet medical needs across various skin diseases with no approved treatments, advancing innovation and access to potential therapies for patients with life-altering conditions, such as Gorlin Syndrome and High Frequency Basal Cell Carcinoma (BCC), two distinct and rare forms of skin cancer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181120005227/en/ “We are very excited about the partnership with PellePharm, who are pioneers in Gorlin Syndrome and experts in rare skin diseases. Supporting our ambitious 2025 strategy, it marks LEO Pharma’s entrance in rare skin diseases and it offers a unique opportunity to bring the first treatment forward to people suffering from a very severe skin disease for which there currently are no approved therapies,” sai

IDEMIA Provides SK Telecom in South Korea with GMSA Compliant Smart Connect Solution to Activate and Manage eSIM Device Lifecycles20.11.2018 12:00Tiedote

IDEMIA, the global leader in Augmented Identity, is proud to have been selected by SK Telecom, the number one telecommunication operator in South Korea, to launch the first eSIM Connected watch based on GSMA Consumer standards. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181120005231/en/ Crédits : IDEMIA As a leading actor in the telecom field, IDEMIA is at the forefront of the digital revolution and is committed to bringing protected and convenient experiences to mobile operator customers. Leveraging its industrial leadership and appetite for innovation, IDEMIA will be providing SK Telecom its GSMA compliant solution. Based on IDEMIA’s Smart Connect Subscription management solution also known as remote SIM provisioning, the technology remotely connects the eSIM of the smart watch to the SK Telecom’s network without inserting a physical SIM card. This technology is also compliant with the latest GSMA standards ensuring in

AURAK Hosts ICEWES 201820.11.2018 10:51Tiedote

The American University of Ras Al Khaimah (AURAK) hosted their annual three-day conference, The International Conference on Energy, Water, and Environmental Sciences (ICEWES), in cooperation with the Arab German Young Academy of Sciences and Humanities (AGYA) and the International Canadian Association for Sharing Knowledge and Sustainability (IASKS) to bring together researchers and scientists with interests in solving energy, water, and environmental related issues. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181119005997/en/ ICEWES 2018 opening ceremony audience at the American University of Ras Al Khaimah (Photo: AETOSWire) The first day of ICEWES commenced with a morning session including the UAE National Anthem, a recitation from the Holy Quran, a welcoming speech from the Vice President of Academic Affairs and Student Success of AURAK, Professor Stephen Wilhite, an AGYA overview from Managing Director, Dr. Sabine Do

Ipsen and 3BP announce First Patient Dosed in Phase I/II study for first-in-class radionuclide (IPN01087)20.11.2018 09:30Tiedote

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) and 3BP today announced the first patient has been dosed in a Phase I/II study for the first-in-class radionuclide 177Lu-IPN01087 (formerly known as 3BP-227). IPN01087 is a compound that targets cancer cells in patients with advanced solid tumors which express the Neurotensin Receptor Subtype 1 (NTSR1). The key objective of the Phase I dose-escalation trial (EUDRACT Number 2017-001263-20) is to evaluate the safety and activity, as well as to identify the optimum systemically-administered dose of radiation to treat patients with any of the following solid tumors expressing NTSR1: pancreatic ductal adenocarcinoma, colorectal cancer, gastric cancer, gastrointestinal stromal tumors, Ewing sarcoma and squamous cell carcinoma of the head and neck. Alexandre Lebeaut, Executive Vice President, R&D and Chief Scientific Officer, Ipsen, said: “Ipsen is committed to bringing to cancer patients innovative systemic radiation therapy with targeted ra

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme