Duff & Phelps

Duff & Phelps Corporation provides independent financial advisory and investment banking services worldwide. The company operates in three segments: Financial Advisory, Alternative Asset Advisory, and Investment Banking. The Financial Advisory segment provides services associated with valuation advisory, tax, and dispute and legal management consulting. The Alternative Asset Advisory segment provides services related to portfolio valuation, complex asset solutions, and due diligence. The Investment Banking segment provides merger and acquisition advisory services, transaction opinions, and restructuring advisory services. Its customers include publicly-traded and privately-held companies, government entities, and investment firms, including Fortune 1000 and smaller companies, law firms, and private equity and hedge funds. The company was founded in 1932 and is based in New York, New York.

Over the last year, the number of spin-off transactions occurring around the world, and in particular, the U.S. has increased dramatically due in large part to the opening of the equities’ markets.  Because of this, Duff & Phelps asked the Nicholas Center to create marketing material that would cover the general descriptions of a spin-off, returns on both the parent and spun-off entities benchmarked against relative indices (pre and post spin-off), management issues (re: spin-offs), and tax and regulatory considerations.

The team used numerous resources, including CapitalIQ, academic research, legal treatises, and practice notes to accomplish this task. After the project was completed, the team traveled to Duff & Phelps' Chicago office to present our findings in front of the co-heads of the transaction opinions group and their colleagues.