Duff & Phelps Prices IPO

Duff & Phelps Corp., a New York-based provider of financial advisory and I-banking services, raised $132.8 million in its IPO. It is the first buyout-backed IPO to price in September.

Duff & Phelps priced 8.3 million common shares at $16 per share, which was below its estimated $16.50-$18.50 range. Duff & Phelps will begin trading today on the NYSE under ticker symbol DUF, while Goldman Sachs and UBS served as co-lead underwriters. Shareholders include Lovell Minnick Partners and Vestar Capital Partners. Lovell Minnick sponsored a management buyout of the company in 2004 from Webster Financial Corp., while Vestar helped finance the 2005 add-on acquisition of the Corporate Value Consulting business of Standard & Poor's. www.duffandphelps.com