Fresh from its acquisition of U.K.-based loan manager Duke Street Capital Debt Management, David L. Babson & Co. continues to eye acquisition opportunities. Roger Crandall, managing director and head of Babson's corporate securities group, would not comment on any specific targets, but said, "We're always looking." He explained one of the beauties of being a subsidiary of the Massachusetts Mutual Life Insurance Co. is having access to capital.
Springfield, Ma.-based Babson eyes a lot of opportunities, but looks for solid management teams where it can build a sustained business, Crandall said. Duke Street, which has E1.5 billion in assets under management, fits that mold, he added. "The plan is to run it independently, our first European subsidiary," he said. "We are hiring the entire team." Ian Hazelton, ceo of Duke Street's debt business will stay in charge, but Babson will provide them with the benefit of its systems knowledge, which has enabled growth to 16 CDOs.