Fri, Sep 19, 2014
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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali