About Highland Capital Management, L.P.
Highland Capital Management, L.P. (“Highland”) was established over 20 years ago and has since grown into one of the largest and most experienced global alternative credit managers.
The Beginning
In January 1990, James Dondero and Mark Okada formed a joint venture with Protective Life Insurance Corporation that specialized in the management of senior secured bank loans. In 1993, this venture evolved into Protective Asset Management Company ("PAMCO"), an SEC registered investment advisor owned 60% by Protective Life and 40% by Mr. Dondero and Mr. Okada. In May 1997, Mr. Dondero and Mr. Okada purchased Protective Life’s stake and established PAMCO as an independent advisor. The following year, PAMCO changed its name to Highland Capital Management, L.P.
CLO Leadership
Highland established its reputation as a pioneer in the collateralized loan obligation (CLO) market by launching one of the first non-bank CLOs in 1996. Since that time, we have structured and monitored an additional 31 CLOs/CDOs totaling over $28 billion in asset value. We are currently the largest CLO manager in the U.S. by assets under management and the second largest in the world.1
Serving Institutional Investors with New Strategies
In 2000, we expanded our investment platform beyond CLOs by launching our first total return strategy, which focused on distressed assets. That same year, we established our first two bank loan separate accounts for large public pension plans in the U.S. and Canada. Since then, we have continued helping investors achieve their risk and return objectives through new strategies that fit well with our value-oriented investment style. These include a variety of institutional funds with diverse strategies, including credit hedge funds, long-only credit, distressed for control private equity, long/short equities, oil & gas and emerging markets credit.
Highland Today
Today, Highland and our affiliates currently manage approximately $20 billion in assets for a diversified client base that includes pension plans, foundations and endowments, corporations, financial institutions, governments and high net worth individuals. Our global headquarters are located in Dallas, Texas. To better serve the needs of our global clients, we have established business development offices in New York, London, Singapore, and Seoul.
1 Source: Moody's CLO Interest Newsletter, 10/5/11