Highland Capital Management

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Highland Capital Management
Private
IndustryAsset management
Founded1993; 25 years ago (1993)[1]
FoundersJames Dondero, president[2]
Mark Okada, CIO[3]
HeadquartersDallas, Texas, United States
Key people
James Dondero
Mark Okada
Trey Parker
ProductsInvestment fund
Hedge fund
Mutual fund
Total assets$14 billion
Number of employees
100+
Websitewww.highlandcapital.com

Highland Capital Management is an alternative investment management firm that manages hedge funds, structured investment vehicles and mutual funds. The firm invests in global public equities, as well as fixed income markets with a focus on leveraged loans, high yield bonds, and structured products.

The firm is headquartered in Dallas, Texas.[4] It also operates offices in New York City, Sao Paulo, Buenos Aires, Seoul and Singapore. Highland reported approximately $13.9 billion of assets under management in 2017.[5]

Overview[edit]

Highland Capital Management was founded in 1993 by James Dondero and Mark Okada.[6] The company acquired NexBank in 2004.[7] In April 2005, Highland acquired ING Capital Management. The acquisition marked Highland's first move into Europe.[8]

In 2011, Highland moved its offices from the Galleria in far north Dallas to the Crescent Complex uptown.[9] Highland is a founding benefactor of the George W. Bush Presidential Center and, in early 2018, the firm provided the center with a $10 million endowment to back a series of public programs.[10]

Investments[edit]

Highland manages the Highland Floating Rate Opportunities Fund (NYSE: HFRO), among other closed-end funds. On February 4, 2010, the firm announced the completion of its CLO Value Fund I, which was launched in November 2008 to invest in secondary CLO debt and equity.[11]

The Highland Global Allocation Fund was valued at $947 million in September 2016.[12] In August 2018, Highland acquired Cityplace Tower from Parmenter Realty Partners and Angelo, Gordon & Co. The transaction was one of the largest building sales in Dallas in 2018.[13]

References[edit]

  1. ^ "Highland Capital Management, L.P." Harvest. Hvst.
  2. ^ Jeff Bounds. "Hedge Funds Get Transparent". D Magazine Partners, Inc. D Magazine.
  3. ^ Azam Ahmed. "Once-Burned, Highland Is Bullish on Debt". The New York Times. Dealbook.
  4. ^ "Making Bold Bets on Alternative Investments—and Winning". Barron's. 25 March 2017. Retrieved 17 January 2018.
  5. ^ "Highland bolsters sales team as it gears for distressed cycle". HFM.
  6. ^ "Making Bold Bets on Alternative Investments—and Winning". Barron's. 25 March 2017. Retrieved 17 January 2018.
  7. ^ "The Running Man: NexBank's Inexhaustible Davis Deadman". D Magazine.
  8. ^ "Europe: Capital Management Unit Sold". The New York Times.
  9. ^ "Highland Capital moving to Uptown from Far North Dallas". Dallas News.
  10. ^ Haber, Holly (15 January 2018). "Bush Center starts off 2018 with pair of $10 million gifts from Highland Capital, Boeing". The Dallas Morning News. Retrieved 17 January 2018.
  11. ^ "Highland Capital Management, L.P. Completes CLO Value Fund". Asset Securitization Report. Structured Finance News.
  12. ^ "Surge in passive strategies will be boon – Hedge fund executive Okada". Reuters.
  13. ^ "Dallas' landmark Cityplace Tower has a new owner with big plans for the high-rise". Dallas News.

External links[edit]