DALLAS, April 18, 2011 /PRNewswire/ -- Highland Capital Management, L.P. ("Highland"), a Dallas-based, SEC‐registered investment adviser with approximately $22 billion of assets under management, announced today that the Bermuda Commercial Court approved a plan to distribute the assets of the Highland Credit Strategies Fund. An investor-led mediation developed the distribution plan, which received the support of an overwhelming super-majority of the fund's investors.
"We are pleased that the investor-led group agreed on a distribution plan, and that it received overwhelming support from investors," said Mark Okada, co-founder and Chief Investment Officer at Highland. "With today's actions, we will diligently put in motion the steps necessary to execute and fulfill the desires of our investors. We firmly believed the investor-led mediation would deliver the most value to all parties, and this agreement represents the culmination of tireless efforts by many parties."
About Highland Capital Management, L.P.
Highland Capital Management, L.P. is a SEC-registered investment adviser with approximately $22 billion of assets under management. It is one of the largest and most experienced global alternative fixed income managers, specializing in bank loans, high yield credit, distressed debt, structured products, real assets, and long-short equities.
Highland's diversified client base includes public pension plans, foundations and endowments, corporations, financial institutions, fund of funds, governments, high net worth individuals, and mutual fund investors. To best meet the different goals of these investors, Highland offers a variety of product types, including credit funds, private equity-style funds, managed separate accounts, hedge funds, retail mutual funds, and collateralized loan obligations (CLOs).
Highland is headquartered in Dallas, Texas and maintains offices in New York, London and Singapore.
SOURCE Highland Capital Management, L.P.