Duff & Phelps has promoted a member of its secondaries advisory team to EMEA head of the unit, nine months after its previous head left the valuations and advisory firm.
Dan Nolan, who took up the position in March, takes the title of managing director and is based in the firm’s secondary market advisory practice in London, according to a statement. He has been with Duff & Phelps since 2018 having joined from Tullett Prebon Alternative Investments.
Nolan’s promotion was one of 32 to managing director at the firm.
The largest deal the unit worked on last year was a tender offer worth around $550 million, Nolan told Secondaries Investor. It is working with an endowment on potential single line and portfolio sales has worked with a large institutional bank to help sell historic post-crisis assets, he added.
In February, Duff & Phelps hired Nicola David from Deutsche Bank to focus on operations and transactions, Nolan said. David spent more than five years at the German bank where she was a closing specialist working on secondaries.
Prior EMEA secondaries head Richard Olson, who left Duff & Phelps in June, has joined the valuations and opinions group of Lincoln International, a mid-market investment bank, Secondaries Investor reported last month.
In January, Duff & Phelps said it was to be acquired by a consortium led by Stone Point Capital and Further Global, having been owned by a group including the UK’s Permira since 2017.