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FRANCE - Predica joins Duke Street as Proclif backer

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Duke Street Capital has sold a stake in French private healthcare group Proclif to Predica, a subsidiary of Crédit Agricole, for EUR 70m. Following the deal, Duke Street's stake decreases from 80% to a majority 50.1% share of the business, with Predica holding 43% and management 7%.

The capital raised will allow Proclif to pursue its expansion outside the Paris region, and reportedly means Duke Street can return EUR 35m to its investors.

Duke Street originally backed the business in a September 2005 buyout. In January 2006, Proclif bolted on two additional hospitals, with a further one acquired in January 2007. In May 2008 the management team

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