Mon, Dec 22, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Bank debt pioneer Mark Okada, of Highland Capital Management, sees significant opportunities in 2013

Wednesday, February 06, 2013

amb
Mark Okada
Bailey McCann, Opalesque New York:

In 1993, few players were in the bank debt space. Bank loans were largely traded between banks, at a low volume, and for the whole loan from start to finish. Now, as bank debt has grown as an investment to over $1tn dollars, Mark Okada, one of the pioneers of bank debt as an alternative asset class, talks about how he grew his firm, Highland Capital Management to approximately $19bn by focusing on the space early.

"We had this vision to turn the bank loan space into a true fixed income alternative asset class. So that’s kind of how we started the firm, as far as having a shingle, something that was unique, was the focus on bank debt," he says in a recent interview with Opalesque TV.

When Okada and his partner, James Dondero, started the firm, they were merely working with a parent company for their salaries. Now, the Dallas-based company employs 140 people and maintains offices in Brazil, Korea, London, New York, and Singapore. Okada owes this growth to maintaining alignment of interest with the investors, and staying focused on what the team is best at.

"We don’t do anything just because we are getting fees, or that’s where money is flowing, or that’s a hot idea, the only thing that we do as a firm is where we like the arbitrage and we think we can add value with our platform and our arbitrage. We may see arbitrage th......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. North America - Why Steve Cohen, Connecticut hedge fund billionaire, gives so much in New York[more]

    From Insidephilantrophy.com: Billionaire Steve Cohen was born in Great Neck, New York before attending Wharton, working on Wall Street and then founding SAC Capital Advisors in Connecticut. Though his company (Point72) and foundation are based in Connecticut, Cohen and Alexandra are deeply connected

  5. Investing - Soros buys a highly speculative biotech in the third quarter[more]

    From Fool.com: …The Soros Fund bought 25,000 shares of the struggling small-cap biopharma Aegerion Pharmaceuticals in the third quarter. For those of you who haven't heard of this name, suffice to say that this was a surprising buy in light of the company's recent problems and poor outlook going for