Duff & Phelps NY-based secondaries director departs

The departure is at least the fourth this year from the corporate advisory and valuations specialist's secondaries advisory unit.

Duff & Phelps has lost another senior executive from its secondaries advisory team, Secondaries Investor has learned.

New York-based director John Corley left the corporate advisory and valuations firm last week, according to two sources familiar with the matter. It is understood that he focused on endowment relationships.

Duff & Phelps hired two senior professionals – Dan Nolan and Bill Arnold – from interdealer broker Tullett Prebon Alternative Investments in early 2018 to build out its secondaries team. Corley joined the firm from Tullett Prebon in September that year, according to his LinkedIn profile.

Nolan, Arnold and a third member of Duff & Phelps’s secondaries team departed in May, as Secondaries Investor reported.

Previous EMEA secondaries head Richard Olson, who left Duff & Phelps in June last year, has since joined the valuations and opinions group of Lincoln International, a mid-market investment bank, Secondaries Investor reported.

In April, Duff & Phelps was sold to a consortium led by Stone Point Capital and Further Global, with selling general partner Permira maintaining a significant stake.

A spokeswoman for Duff & Phelps declined to comment.