DALLAS – Highland Capital Management, (“Highland”) today announced that it has been awarded a $250 million mandate from the $21.2B Texas Municipal Retirement System (TMRS). TMRS approved a non-core fixed income investment in one of Highland’s bespoke credit strategies using senior secured bank loans and CLO debt, pending successful contract negotiations.
“This mandate is reflective of the strength and success of our growing institutional platform,” said Mark Okada, Co-Founder and Chief Investment Officer, Highland Capital Management. “It also represents another important win for Highland as a whole. We look forward to building a successful partnership with TMRS and to further expanding the reach of our investment management capabilities by forging additional partnerships.”
About Highland Capital Management
Highland Capital Management is an SEC-registered investment adviser which, together with its affiliates, has approximately $18 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), alternative mutual funds, distressed private equity, hedge funds, natural resources, long-only funds and separate accounts. Highland is headquartered in Dallas, Texas with offices in New York, London, Singapore and Seoul.