Duff & Phelps, a US financial advisory boutique, has bought a bankruptcy adviser as the financial services industry gears up for an expected boom in restructuring over the next two years.

Duff & Phelps has bought Chanin Capital Partners, a 22-year-old firm whose main business is advising creditors in distressed companies. Putnam Lovell NBF Securities advised Chanin. The deal price was not disclosed.