Goldman leads Duke Street restructuring

The investment bank is working with the London-headquartered firm to offer liquidity to investors in its €963m Duke Street Capital VI fund, according to sources.

Goldman Sachs Asset Management is the main buyer in a restructuring of UK buyout firm Duke Street‘s 2006-vintage fund, PEI sister title Secondaries Investor has learned.

The bank’s AIMS private equity group is working with the London-headquartered firm to offer liquidity to investors in its €963 million Duke Street Capital VI fund, according to two sources familiar with the matter.

The process is likely to involve moving assets from the fund into a new vehicle and may be syndicated with other secondaries buyers, one of the sources said. Duke Street VI has about €240 million in remaining net asset value and the deal is expected to close in December or the first quarter of next year, according to the sources.

Lazard is understood to be advising on the process.

To read more visit Secondaries Investor.