It seems like a tough time for an investment banks to go public. Indeed, Duff & Phelps before it began trading last week was forced to scale back its early plans. However, the sale went off and the firm raised more than $130 million. Goldman Sachs and UBS were the lead underwriters. One might argue that the mid-range market is thriving. Duff & Phelps have been in growth mode, according to Financial News Online. It has boosted its headcount from 75 in 2004 to 680 at end of June. It is aiming at joining the top echelons of middle market firms, along with Jefferies and Houlihan, Lokey, Howard & Zukin. This market hasn't been as hard hit by the credit crunch.  

For more:
- here's the Financial News Online update

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