Highland Capital Management, LP., a Dallas, Texas-based firm is an investment advisor that is specialized in alternative investment strategies and credit. Yet, before this Dallas investment advisory company was called Highland Capital Management, they were known as Protective Life Insurance Corporation, which was founded in 1990 by James Dondero and Mark Okada. This joint venture between Okada and Dondero focused on working with the fixed income markets and managing senior secured bank loans. Read more at Biz Journals about Highland Capital.
At Highland Capital Management, their Highland Funds entail many distinct investment companies. Here are their three types of funds: Traditional closed-end, open-end mutual funds, and closed-end.
In 1993, this business venture between Okada and Dondero decided on a name change to Protective Asset Management Company or PAMCO. This new business entity was 40 percent owned by the founders, and 60 percent owned by Protective Life. In 1993, it became an SEC-registered investment advisor. James Dondero and Mark Okada ended up moving its firm to Dallas, Texas, to be closer to the financial capital of the world, New York. It also allowed for more business-friendly environs with a lower tax rate.
The founders of the company ended up buying the rest of Protective Life’s share of PAMCO in 1997. And in 1998, after having the name Ranger Asset Management for a short period, Mr. Okada and Mr. Dondero changed the company name to Highland Capital Management. Read this article at PR Newswire.
At the turn of the new Millennium, Highland Capital Management created its first fund, a commingled bank loan fund. Using their expertise, Okada and Dondero turned their investment expertise in the loan market sphere by creating this new investment product. Since then, Highland Capital Management has looked to the international markets by expanding its reach and expertise concerning fund management in countries like Singapore, Seoul, Korea, Sao Paulo, Brazil, and Buenos Aires, Argentina. The Buenos Aires office of Highland Capital opened in 2017.
Highland Capital Management also branched out into loan ETFs in 2012, by launching the iBoxx Senior Loan ETF. The iBoxx Senior Loan was only one of two available in the market in 2012, that was a bank loan ETF.