• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Nordics

Duke Street Capital Debt Management acquired by David L Babson

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
David L Babson & Company Inc (Babson) has agreed to acquire Duke Street Capital Debt Management Ltd (DSCDM) for an undisclosed sum. The US investment management firm will acquire the London-based debt fund manager once regulatory approval has been given.

Babson is a member of the MassMutual Financial Group and registered assets under management of approximately $82bn at the end of 2003. The firm is one of the largest US debt fund managers for institutional investors and high-net-worth individuals, managing over $6.5bn of leveraged loans. With more than E1.5bn in assets under management at the year-end 2003, DSCDM specialises in CDOs (collateralised debt obligations) backed by leveraged loans. The company is an indirect, wholly-owned subsidiary of Duke Street Capital Holdings Ltd(Duke Street Capital).

Roger Crandall, managing director and head of Babson's Corporate Securities Group, commented that the acquisition will help develop the company's rapidly growing alternative asset business by providing broader access to the European leveraged loan market via a strong team. He added that the group is expecting European credit to be a growth market going forward. Babson's chief operating officer, Bill Glavin, confirmed that a London-based subsidiary will enable Babson to expand its relationships with investors in Europe and generate more opportunities for both companies.

Ian Hazelton, chief executive of DSCDM noted: 'Duke Street Capital has given us every support as we founded and developed this business. We have one of the very best teams in leveraged loan CDO management, and our market continues to show great growth opportunities. With Babson's support, we look forward to even greater success'. Hazelton will remain in his position, and DSCDM's staff of 17 will be retained following the acquisition. DSCDM's headquarters will be Babson's first subsidiary in Europe.DSCDM invests in senior loans, mezzanine loans and buyout-related high yield bonds, predominantly in Europe. DSCDM also manages Duchess I CDO, SA and Duchess II CDO, S A. The company was set up in 2000 as a platform for establishing an extensive multi-fund debt management business. DSCDM successfully closed its EUR 750m maiden CDO fund, Duchess I CDO S A, in June 2001. Duchess I is Europe's largest arbitrage CDO focusing on leveraged loans. In February 2002, as a result of Duchess I's strong early performance, DSCDM announced an innovative Tap Issue - the first ever for a CDO fund and increasing the size of the vehicle to E1bn. In conjunction with the Tap Issue, Standard and Poor's upgraded Duchess I's rating on B Notes from BB to BB+. Duchess I was the only managed cashflow CDO to be upgraded in 2002. At its increased size, Duchess I was fully invested in July 2002.

Duchess II, DSCDM's second CDO fund focused on leveraged loans, closed in April 2003 at EUR 550m, making it the largest CDO fund to close in Europe in 2003. Duchess II has many of the same features of Duchess I, including access to a wider investment pool with its ability to invest in both sterling and euro denominated senior and mezzanine loans within the leveraged finance market. Duchess II was fully invested in December 2003.Duchess III warehouse opened in November 2003 and since then DSCDM has been acquiring assets. Duchess III will follow the same formula as Duchess I and II, investing primarily in senior secured and mezzanine loans. Duchess III is being structured and arranged by CDC IXIS

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Nordics

More on Nordics

EMEA Public to Private M&A
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • Investments
  • 04 September 2023
Reima Linnanvirta of Trind VC
Trind VC plans up to five early-stage investments in next six months

VC has deployed around 10% of its second, EUR 55m fund and plans to invest in up to 40 startups

  • Venture
  • 31 August 2023
Mergermarket
Letter from the editor: Unquote is moving to Mergermarket

Unquote Editor Harriet Matthews outlines Unquote.com's upcoming move to the Mergermarket platform and the new capabilities and intelligence that this brings to Unquote readers

  • Industry
  • 30 August 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013