Thu, Dec 8, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Private Equity Strategies

Movers & Shakers: Highland Capital Loses Boyce

Tuesday, September 02, 2014

Texas-based Highland Capital Management is losing its head of private equity after 10 years. Patrick Boyce will continue to serve on the board of some of Highland’s portfolio companies.

Highland Capital Management was founded in 1993 by Jim Dondero and Mark Okada, and primarily invests in high-yield credit. The firm has steadily expanded in the credit space and also into more pure play private equity investments.

Boyce will be relocating to Hawaii with his family, according to a statement from the firm.

Jim Dondero and John Honis will lead the firm’s private equity group going forward.

Apart from pure private equity, Highland has been able to capitalize on record CLO issuance this year. Total issuance topped $83 billion, beating last year’s $82.6 billion number. Other private equity firms including Apollo have also surpassed internal records with their CLO issuance. Apollo managed their largest CLO offerings to date in both the US and Europe this year.

Highland Capital founder Mark Okada, was featured in a two part interview on Opalesque TV where he discussed the invention and history of CLO’s as well as Highland’s investment approach.

“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 that we think is cheap and it’s great and it’s underpriced, but we don’t have any people that know how to do that, that’s not what we are going to do,” Okada said in the interview.

Watch Part 1 here.

Watch Part 2 here.

 
This article was published in Opalesque's Private Equity Strategies our monthly research update on the global private equity landscape including all sectors and market caps.
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies


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. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest