LightPoint Capital Management, the Chicago-based loan asset management firm set up through the spin-off of senior members of ABN Amro's leveraged finance business, is close to completing its second collateralized loan obligation. The newest deal is called Premium Loan Trust I and is underwritten by Institutional Credit Partners (ICP), according to a presale report from Standard & Poor's. ICP is issuing $259 million of notes. The vehicle is notable for its short reinvestment period of one year.
Thomas Kramer, senior managing director and ceo of LightPoint, did not return calls. An S&P analyst declined comment. Earlier this year LightPoint raised its debut deal, an approximately $300 million CLO comprised of leveraged loans. Other professionals at the firm include Guia Trutter, managing director and head of trading; Joseph Lynch, portfolio manager; and Timothy Van Kirk, managing director and chief risk officer.