Highland Capital Management is a Dallas-based investment firm founded in 1993. The firm is an alternative investment firm that has a specialty in the management of hedge funds, distressed investment and structured investment funds. The SEC-registered investment advisor enjoys great levels of success with its control of approximately $18 billion in assets. The firm prides itself on being one of the biggest global alternative credit managers.
Among the products offered by the firm include credit hedge funds, distressed and special situations private equity, long-only funds and separate accounts as well as Collateralized Loan Obligations (CLOs). The firm is also involved in alternative investments in emerging markets and natural resources. The client base served by the firm includes corporations, public pension plans, governments, foundations, endowments, financial institutions and high net worth individuals.
The firm’s inspiration journey began in January 1990 when the firm was founded by the combined efforts of James Dondero and Mark Okada to create a joint venture with Protective Life Insurance Corporation. The joint venture formed laid its focus on fixed income markets and was involved in the management of senior secured bank loans. The year 1993 saw the evolution of the venture into PAMCO (Protective Asset Management Company), with 60% owned by Protective Life while 40% was owned by Mr. Dondero and Mr. Okada.
With the growth of the company, James Dondero and Mark Okada bought the stake owned by Protective Life in PAMCO in 1997. The purchase saw them establish Ranger Asset Management, an SEC Registered independent advisor. Come the next year, the name of the firm changed to Highland Capital Management L.P. Since then, the company has had various milestones.
Dondero is a successful Dallas-based hedge fund manager who continues to excel through the management of Highland Capital Management. With a wealth of experience, Dondero is one of the most sought-after hedge fund managers. Mr. Dondero has also portrayed exceptional leadership skills, this evidenced by the many firms that have appointed him to serve on their boards of directors.
James’ journey began in 1984 where he served as an analyst in the Morgan Guaranty training program. He went on to work for huge firms that include American Express as a Corporate Bond Analyst and Portfolio Manager between 1985 and 1989. Between 1989 and 1993, James Dondero aided in the creation of Protective Life’s GIC subsidiary, from inception to a worth of over $2 billion.