The History Of Highland Capital Management And Its Expansion Into Asia

As an alternative assets investment company, Highland Capital Management, L.P., has offered its financial products to clients for more than 20 years. It is headquartered in Dallas, Texas, and over the years has developed into a global company. The co-founders of the company were Mark Okada and James Dondero who had established the company in a partnership with Protective Life Insurance Company.
Established in 1993, Highland Capital Management was very successful early on, in particular with collateralized loan obligations which at the time were a new asset class. This success led to Okada and Dondero buying out Protective Life Insurance Company’s share in the company in 1997. Originally named Protective Asset Management Company, they renamed it as Ranger Asset Management, L.P. The next year, 1998, they renamed it again to its present name.
Highland Capital Management grew greatly in 2004 when it started offering mutual funds managed by them. To facilitate this they had bought to floating rate funds from another financial services company, Columbia Asset Management. Another big accomplishment at Highland Capital Management occurred in 2008 when they entered Asia, opening offices in Singapore. Three years later they opened another office in Seoul, South Korea.
In May of 2017, the company’s subsidiary, Highland Capital Management Korea Ltd., created a healthcare-focused private equity fund. It was established with almost $150 million in capital commitments. The main investor in the fund is the South Korea National Pension Service. The fund is focused on the stock of healthcare industry companies that are headquartered in the United States, China, and South Korea. The fund is being co-managed between Highland Capital Management Korea and Stonebridge Capital.
At Highland Capital Management, they believe it is important to be a positive force in the broader community. The management of the company has been involved in a number of philanthropic pursuits. They have provided over $10 million to various charities such as The Family Place in Dallas, Texas, which helps those who are escaping domestic violence situations. James Dondero has also offered his expertise by serving on the Executive Board for the Cox School of Business which is located on the campus of Southern Methodist University.