Duke Street Capital's 10 directors are in line for a windfall following the €60m ($74m) sale of the buy-out firm's debt management business to David L Babson, a US institutional debt asset management firm.

The sale follows attempts by Duke Street directors to introduce more capital into Duke Street Capital Debt Management. Earlier this month Duke Street said the business it founded in 2001 "needed more firepower" and that it was mulling a joint venture or sale.