Highland Capital Management is a renowned investment adviser company that registered with the SEC. The firm’s headquarters is located in Dallas, Texas. It also has offices in Seoul, New York, Sao Paulo, and Singapore. Highland Capital Management, together with its associates, is worth $14.8 billion of assets under management.
The firm specializes in credit strategies such as long-only funds and separate accounts; credit hedge funds; collateralized loan obligations (CLOs); and distressed and special situation private equity. It also offers alternative investments including natural resources, emerging markets, and long/short equities.
The History of Highland Capital Management
James Dondero and Mark Okada, who are the co-founders of Highland Capital Management, began founding of the company in the 1990s. First, they formed a joint venture with the Protective Life Insurance Corporation, which specialized in fixed income markets, for instance, managing of senior secured bank loans. Later in 1993, the venture evolved to PAMCO (Protective Asset Management Company). It is an SEC-registered investment advisor. Moreover, Protective Life Insurance Corporation owns 60 percent of PAMCO’s shares while the co-founders own the other 40 percent.
As the company began to progress, the co-founders purchased the shares of Protective Life Insurance Corporation in May 1997. They proceeded to establish Ranger Asset Management, L. P. as an autonomous advisor company that is registered with the SEC. In 1998, Ranger Asset Management, L. P. was changed to the Highland Capital Management, L. P.
Accomplishments of Highland Capital Management
Highland Capital Management formed its first commingled bank loan fund under the leadership of James Dondero and Mark Okada in 2000. The firm also established an alternative investment 40 Act platform that same year. In 2004, Highland Capital Management developed its product lines. Further, it joined the mutual fund business by acquiring of two floating rate funds from the Columbia Asset Management. Additionally, the expansion of the company led to the opening of offices in Singapore and Seoul in 2008 and 2011 respectively.
Currently, Highland Capital Management is a privately owned investment firm. It has experience for more than 20 years in a variety of products for institutional investors and retail. Furthermore, the client base of Highland Capital Management includes financial institutions, corporations, and pension plans.