Long-Only

A long-only credit strategy provides exposure to the strategic and tactically attractive high yield credit market with one of the world's most experienced alternative credit managers.  

High yield credit includes senior secured bank loans (also known as leveraged loans).  For more details on the bank loan asset class, please click here.

Highland has been investing in high yield credit since 1993, and managing dedicated long-only high yield credit commingled funds and separate accounts since 2000.  We are one of the largest managers of bank loans in the world, with approximately $14 billion in bank loans assets under management .  Highland's long-only high yield credit investment philosophy is a value-oriented, long-term view that combines several elements:
  • Bottom-up analysis from our deep research group
  • Top-down technical analysis with proprietary sector rotation
  • "Alpha-by-avoidance" - we believe that what separates great managers from good managers is how quickly they identify and sell potential losers
Highland's long-only strategy is a beta approach that provides exposure to the broader high yield credit markets, and targets returns that are intended to exceed benchmarks such as the Credit Suisse Leveraged Loan Index.  Our long-only high yield credit strategy is available via commingled funds and separate accounts. 

Additionally, with separate accounts, Highland can create customized mandates with investments across all asset classes, particularly:
  • U.S. & European senior secured bank loans
  • Stressed loans
  • Distressed credit
  • CLOs
  • High yield bonds

Leadership

Mark Okada, CFA - Co-Founder, Chief Investment Officer

Mr. Okada is Chief Investment Officer of Highland Capital Management, L.P. He is responsible for overseeing Highland’s investment activities for its various strategies. Mr. Okada is a pioneer in the development of the bank loan market and has over 25 years of credit experience.
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Amit Walia, CFA - Partner, Co-Head of Research

Mr. Walia is a Partner and Co-Head of Research at Highland Capital Management, L.P.
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Trey Parker - Managing Director, Co-Head of Research

Mr. Parker is Managing Director and Co-Head of Research at Highland Capital Management, L.P.
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