Highland Capital Management Announces Launch of Non-Traded Product Line with Affiliate NexPoint Advisors
DALLAS, August 20, 2014 – Highland Capital Management, L.P., (“Highland”), a Dallas-based investment management firm, which together with its affiliates has approximately $19 billion in assets under management, today announced the launch of its non-traded product line with a publicly-registered Business Development Company (BDC) NexPoint Capital, Inc. The BDC will be the industry’s first healthcare-focused fund of its kind with a target raise of $1.5B in capital for investing primarily in medium-sized businesses.
NexPoint Capital, Inc. represents Highland’s initial non-traded product with the company announcing plans to introduce additional non-traded products later this year. The BDC will be distributed by Highland Capital Funds Distributor, and will be led by Brad Ross, President of Highland Funds, and Brian Mitts, Chief Operating Officer of NexPoint Advisors and head of business development for Highland’s alternative products.
“We believe alternative products offer a compelling, income producing and non-correlated investment option for investors,” said Mr. Mitts. “We’re confident our current suite of liquid alternative mutual funds combined with the non-traded products we’ll be launching over the next few months will offer independent advisors one of the industry’s strongest and most robust product lineups.”
As part of the firm’s expansion into non-traded products, Highland hired Jennifer Ricci as Director of National Accounts in February, and has added eight wholesalers for the wire house channel and five wholesalers for the independent channel to augment its distribution team. The sales team is dedicated to educating investors on alternative products in the independent broker dealer channel. For more information please contact Brian Mitts at BMitts@highlandfunds.com.
About Highland Capital Management
Highland Capital Management is an SEC-registered investment adviser which, together with its affiliates, has approximately $19 billion of assets under management. Founded in 1993 by Jim Dondero and Mark Okada, Highland is one of the largest and most experienced global alternative credit managers. Highland’s strategies include collateralized loan obligations (CLOs), floating rate bank debt, high yield bonds, distressed credit, public and private equities, structured products, natural resources, and real estate.