Highland Capital Management is a financial advisory firm and one of the most experienced and the largest alternative credit management company in the world. Established by James Dondero and Mark Okada in the 90s, Highland has over $15.4 billion worth of assets under its management. Highlands specializes in hedge funds and credit strategies, collateralized loan obligations and unique situation private equity. In the course of its operation, Highlands also engages in alternative investments venturing in emerging markets and natural resources.
Highlands aims to produce above average returns consistently in its investment approach. The firm applies time-tested principles of investment in balancing portfolios, adding significant value to the investor and the investment process at large. Highland is seen as a pioneer in the collateralized loan obligation (CLO) market having established among the first non-bank CLOs in 1996. Currently, Highlands has structured and overseen close to 40 CLOs with an asset value of approximately $32 billion; this makes Highland the leading CLO manager in the world by assets managed.
Highland’s history began in 1990 when its founding partners established a joint venture with Protective Life Insurance Corporation. Through the venture, Mr. Dondero and Mr. Okada specialized in fixed income markets which also involved managing senior secured bank loans. In 1993, Protective Asset Management Company (PAMCO) was formed out of this joint venture. PAMCO, an SEC-registered financial advisor, was co-owned by the two partners and Protective Life. As the company expanded, the partners purchased Protective Life’s stake in PAMCO which amounted to 60 percent of the total holding. They later established Ranger Asset Management, L.P as an independent financial advisor which then changed its name to Highland Capital Management, L.P.
Headquartered in Dallas, Texas, Highland Capital Management is now an independently owned investment firm with vast knowledge on products for retail and institutional investors. The firm has over 180 employees based around the world and operates offices in New York City, Seoul, São Paulo and Singapore. Highland has a broad customer base which includes financial institutions, pension plans, and governments. The firm is focused on fulfilling is investors’ interests by offering unique products and acting on new opportunities.