Lehman Buying LightPoint Capital of Illinois

Published July 13, 2007, 1:00 a.m. EDT

Updated July 12, 2007, 4:29 p.m. EDT

1 Min Read

Lehman Brothers Holdings Corp. announced it has agreed to buy LightPoint Capital Management LLC of Chicago, a leveraged loan investment specialist.

Processing Content

LightPoint, which invests in collateralized loan obligation securities, has $3.2 billion of assets under management. It would become part of Lehman's asset management division.

Thomas Kramer, LightPoint's chief executive, is to join Lehman Brothers Asset Management as a managing director and co-head of leveraged asset management. The deal was announced Wednesday and is expected to close by yearend. The price was not disclosed.

MORE FROM AMERICAN BANKER

Industry News

Bankruptcy filings were up 11.9% in last 12 months

Bankruptcy filings rose 11.9% during the past 12 months, according to statistics from the Administrative Office of the U.S. Courts; JPMorganChase named Jerry Lee and Nick Richitt as global co-heads of health care investment banking; Goldman Sachs appointed Akila Raman as global head of its private and alternatives capital markets business; and more in this week's banking news roundup.

By Traci Parks
Copy editor, American Banker

April 24
M&A

Adyen to buy German loyalty platform in first-ever acquisition

The all-cash, 750 million euro deal to buy Talon.One marks a notable shift from the fintech's M&A strategy that has historically favored build versus buy.

By Joey Pizzolato
Reporter

April 24
Earnings

Flagstar pares back earnings outlook amid elevated CRE payoffs

The Long Island-based regional bank, which has been in turnaround mode for two years, reduced its earnings per share guidance for 2026 and 2027. It cited an expected decrease in net interest income due to higher levels of payoffs and paydowns in commercial real estate.

By Allissa Kline
Reporter

April 24
Regulation and compliance

Regulators reduce leverage ratio for community banks

The Federal Deposit Insurance Corp., Federal Reserve and Office of the Comptroller of the Currency Thursday finalized a rule lowering the community bank leverage ratio from 9% to 8% as well as extending compliance deadlines.

By Ebrima Santos Sanneh
Reporter

April 24
Trump administration

Justice Department to drop Powell investigation

U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement.

By Claire Williams
Reporter

April 24
Artificial intelligence

Bankers say they're AI fluent, but measurement is 'ad hoc'

Only 16% of 206 banking pros rated their institution "high" or "very high" — and most of those ratings rest on no formal measurement.

By Carter Pape
Technology Reporter

April 24