In March 2001, private equity firm Duke Street Capital launched the collateralised debt obligation, Duchess I – a cashflow arbitrage CDO, which at €750m was the largest of its kind.
The deal was launched only one year after the firm had moved into debt fund management.
Duke’s CDO team now numbers 14. The team is large for a single CDO fund and has been assembled to accommodate the transition of Duke Street into a multi-fund manager. Ian Hazelton, chief executive at Duke Street Capital