Duke Street Capital appoints bond investment manager

New appointee Zac Summerscale joins the private equity firm from New Flag Asset Management.

UK private equity firm Duke Street Capital has appointed Zac Summerscale as bond investment manager for the firm’s new collateralised debt obligation fund (CDO).

Duke Street is aiming to raise E500m to be invested in the loan, bond and mezzanine markets. It is expected to approach the asset-backed bond market in the next two weeks. CIBC, the Canadian Imperial Bank of Commerce, is managing the deal, Financial News reports.

Summerscale joins Duke Street from high yield bond investment company New Flag Asset Management, which he joined in May 1999 as a portfolio manager.