Edmund Truell, chief executive of Duke Street Capital, the middle market private equity house, is a busy man in a hurry. Truell says: 'We are busy on several fronts. We are putting together DSC V, a €1bn ($884m) pan-European private equity fund. We will carry on doing what we have been for the past seven years, making relatively few investments. I expect this fund to make about 10 investments.'

The house has also launched a €1bn collateralised debt obligation (CDO) fund, through which it will buy leveraged loans, high-yield bonds and mezzanine debt (Financial News, December 11, 2000).