The name Ranger Asset Management was short-lived, and within a year, the founders renamed the firm Highland Capital Management, L.P.
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In May 1997, as the company began to take off, Mr. Dondero and Mr. Okada purchased Protective Life’s stake in PAMCO and established Ranger Asset Management, L.P. as an independent…
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Under Mr. Dondero and Mr. Okada’s management, PAMCO issued one of the first non-bank collateralized loan obligations (CLO), pioneering the CLO market. Since then, the firm (which later became Highland)…
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Within a year of finalizing the PAMCO agreement, Mr. Dondero and Mr. Okada moved the firm to Dallas, Texas. The new headquarters put the firm closer to the finance capital…
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The joint venture evolved into Protective Asset Management Company (“PAMCO”), an SEC registered investment advisor, owned 60% by Protective Life and 40% by the founding partners.
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In January 1990, founding partners James Dondero and Mark Okada formed a joint venture with Protective Life Insurance Corporation. Operating out of Los Angeles, California, the joint venture specialized in…
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