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Article: Duke Street sells debt business for [euro]60m.
- Article from:
- Financial News
- Article date:
- March 24, 2004
CopyrightCOPYRIGHT 2004 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: William Hutchings
Duke Street Capital's 10 directors are in line for a windfall following the [euro]60m ($74m) sale of the buy-out firm's debt management business to David L Babson, a US institutional debt asset management firm.The sale follows attempts by Duke Street directors to introduce more capital into Duke Street Capital Debt Management. Earlier this month Duke Street said the business it founded in 2001 "needed more firepower" and that it was mulling a joint venture or sale.
Babson is one of Europe's largest investors in the European leveraged loan market and has more than $83bn in assets under management.
The directors and ...