Lindsay Goldberg, a boutique New York investment firm, has invested up to $500 million (€329 million) in Duff Capital Advisors, an institutional investment management and advisory firm that launched today.
DCA is “in discussions” with others to secure an additional $1 billion to $1.5 billion in financing, according to a statement.
The institutional advisory firm was founded by Phil Duff, who previously founded FrontPoint Partners in 2001. A $9 billion alternative investment management firm, FrontPoint was sold to Morgan Stanley in 2006.
Lindsay Goldberg, which is affiliated with Bessemer Holdings, closed a $3.1 billion private equity fund in September 2006. The firm typically invests between $50 million and $250 million in the manufacturing, financial services and healthcare sectors.