Goldman Sachs Group Inc. (GS:US) is raising a $351 million collateralized loan obligation for Kramer Van Kirk Credit Strategies LP, according to two people with knowledge of the deal.
The fund may include a $226.6 million slice rated AAA, said the people, who declined to be identified because the terms are private.
CLOs are a type of collateralized debt obligation that pool high-yield, high-risk loans and slice them into securities of varying risk and return.
The Chicago-based firm was founded by Tom Kramer and Tim Van Kirk last year. The pair previously founded LightPoint Capital Management LLC in 2002, which was acquired by Lehman Brothers Holding Inc. in 2007.
Tiffany Galvin, a Goldman spokeswoman, and Kramer declined to comment.
There have been $10.2 billion of CLOs backed by widely syndicated loans issued this year, according to data compiled by Bloomberg.
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