Keith Gray

Keith Gray is a director in the Transaction Opinions practice at Kroll and is based in Chicago. He has extensive experience executing engagements for fairness opinions, solvency opinions and business valuation opinions.

Keith has completed numerous financial advisory and valuation assignments involving fairness opinions, solvency opinions, commercially reasonable debt opinions, strategic planning, financial reporting, ERISA valuations and transactions and litigation support. He has rendered fairness and solvency opinions in a variety of public and private company transactions, including going-private, leveraged buyouts, asset sales, reverse mergers, related-party transactions, spin-offs, recapitalizations, and ESOP transactions.

Keith has experience across a broad range of industries, including consumer products, consumer retail, financial services, food and beverage, real estate, energy, healthcare, printing, media, technology, and manufacturing, among others. He has executed engagements for corporate clients, including Bluerock Residential Growth REIT, Inc., Cargill, Incorporated, CDW Corporation, Energizer Holdings, Inc., Expedia Inc., Hallmark Cards, Inc., Herff Jones, Inc., Hilton Worldwide Holdings, Inc., HoldingsPreferred Apartment Communities, Inc., Spirit Airlines, Inc., The Yankee Candle Company, Inc., and TripAdvisor Inc., and for private equity clients, including ABRY Partners, Apollo Global Management, Behrman Capital, Hellman & Friedman, KKR, Madison Dearborn Partners, Oaktree Capital Management and Sun Capital Partners.

Keith received his MBA in finance and accounting from The University of Chicago Booth School of Business and his BA in mathematics and economics from Cornell University. He is a FINRA Series 63 and 79 registered representative.

Corporate Finance and Restructuring

M&A advisory, restructuring and insolvency, debt advisory, strategic alternatives, transaction diligence and independent financial opinions.

Fairness and Solvency Opinions

Duff & Phelps Opinions is a global leader in Fairness Opinions and Special Committee Advisory, ranking #1 for total number of fairness opinions in the U.S., EMEA (Europe, the Middle East and Africa), Australia and Globally in 2023 according to LSEG (FKA Refinitiv).

Fairness Opinions

#1 ranked provider of fairness opinions for boards of directors and special committees.

Solvency Opinions

Duff & Phelps Opinions practice is a globally recognized leader in solvency opinions. Since 2005, we have rendered more than 2,585 fairness and solvency opinions for transactions with an aggregate deal value of over $8 trillion.