Our History

Highland Capital Management was established over 20 years ago and throughout its history has continued to evolve into one of the largest and most experienced global alternative credit managers.

The Beginning

In January 1990, James Dondero and Mark Okada (founding partners) formed a joint venture with Protective Life Insurance Corporation that specialized in fixed income markets, including 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 the founding partners. In May 1997, Mr. Dondero and Mr. Okada purchased Protective Life’s stake and established Ranger Asset Management, L.P. as an independent advisor registered with the SEC. The following year, Ranger Asset Management, L.P. changed its name to Highland Capital Management, L.P.

CLO Leadership

In addition to Highland’s vast experience and leadership, the company also pioneered the collateralized loan obligation (CLO) market having launched one of the first non-bank CLOs in 1996. Since then, Highland has structured and monitored over 39 CLOs/CDOs totaling approximately $32 billion in asset value making the company the largest CLO manager in the world by USD assets under management. `{`1`}`

Serving Retail Investors with New Strategies

In 2000, Highland expanded its investment platform beyond separate accounts and CLOs by launching the company’s first alternative investment 40 Act platform. In 2004, Highland entered the mutual fund business by acquiring two floating rate funds from Columbia Asset Management. More than a decade later, we continue to help investors achieve their risk and return objectives through new strategies and value-oriented investment vehicles. These include a variety of retail funds with diverse strategies. For more information please visit our Highland Funds Page.

Highland Today

Today, Highland is an independently-owned investment firm with over 20-years of experience in a broad range of products for both retail and institutional investors. We’re a rapidly growing team of over 180 employees based around the world. We’re headquartered in Dallas, Texas with a network of offices in New York City, São Paulo, Singapore, and Seoul. Our diversified client base includes pension plans, foundations and endowments, corporations, financial institutions, governments and high-net worth individuals. Highland is focused on delivering alpha and providing value to investors by offering unique products, pursuing new opportunities and passionately protecting investors’ capital.

1. Source: Moody’s CLO Interest Newsletter, 7/31/13