Duke’s Duchess shines


Duke Street Capital Debt Management’s (DSCDM) e750 million Duchess 1 collateralised debt obligation (CDO) made a big impression at its close last June – no other high-yield CDO has even approached that sort of size – and now the fund is being increased to an impressive e1 billion.

It is the first time that a tap has been used to increase the size of a CDO fund. The popularity of Duchess CDO is largely down to its limited bond exposure compared with most other high-yield CDOs.

“Our credit sta

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