(Newswire.net — October 17, 2019) — The co-founder of Highland Capital Management, Mr. Mark Okada, is retiring from the alternative investment management vehicle at the end of this year, according to a recent press release from the firm.
The firm oversees $13.9 Billion in assets under management (‘AUM’) according to its 2018 report and is headquartered in Dallas, Texas. It was started in 1993 with a particular emphasis on the credit markets, an area where Mr. Okada has extensive expertise.
In the interim period, Mr. Okada will remain at the fund serving in an advisory capacity. The move is not unexpected, and Mr. Okada has been transferring responsibilities for several years before making the switch. Mr. Okada enjoyed considerable levels of press during his tenure as the front face of the company, appearing on CNBC and Bloomberg on numerous occasions as a regular contributor.
While he is stepping down, he will retain his ownership stake in the fund. He currently occupies the position of Chief Investment Officer (‘CIO’) at Highland Capital Management. His roles will be taken over by the other co-founder James Dondero. Dondero will also take on the role of co-chief investment officer, working alongside Joe Sowin. Speaking on the retirement, Dondero stated that:
“We are grateful to Mark for his service, his performance, his leadership, and his personality. Over our 30-year partnership, we built a lasting business that has been tested by multiple credit cycles. Mark helped shape Highland and position the firm for future growth. I look forward to working with him across our continuing endeavors.”
The co-founder enjoyed a successful time at the firm, surviving numerous credit cycles, most notably the 2008 crash and its global implications. A lawsuit against the company in 2011 was dismissed by the Delaware court. No compensation was made prior to the dismissal of the Lawsuit.
Mr. Okada is also on the board of directors at NexBank Capital, a Dallas-based financial services company. He received a B.A. in both economics and psychology from the University of California and is also a Chartered Financial Analyst (CFA). Mr. Okada is grateful for all the assistance from his colleagues and for the time he spent at the firm:
“I’m proud of what we have built at Highland and all we achieved for our investors, community, and industry. I thank all of my Highland colleagues for their outstanding contributions and particularly Jim for his friendship and support as I begin a new phase in my career”
He is also committed to a number of philanthropic and civic causes with a particular focus on education, faith-based service, and Japanese-American relations. He is chairman of the board of directors of ‘Education Is Freedom’, a Dallas-based nonprofit that provides college preparatory services for underserved students. Mr. Okada is also chairman of the board for Common Grace Ministries and is a board member of the Japanese Evangelical Missionary Society.
Okada has over 30 years of experience in the credit markets and is regarded as an industry innovator, helping Highland to specialize and innovate in this sector. He is responsible for structuring one of the industry’s first non-bank Collateralized Loan Obligations and is a pioneer in the development of the bank loan market. Between 1990 – 1993, Mr. Okada served as Manager of Fixed Income for Protective Life’s GIC subsidiary before launching Highland Capital.
Highland Capital was responsible for designing the first software to electronically track loan portfolios, which is used by a majority of loan managers. Highland sold the software to J.P. Morgan Chase in 2003. In April 2004, Highland Capital was introduced to the mutual fund space with its acquisition of Columbia Management Advisors’ mutual fund. The firm acquired NexBank in 2004 and in 2005 would go on to acquire ING Capital Management. The ING acquisition marked Highland Capital’s first move into Europe.
Since 2012, Highland Capital has been actively contributing to key social and community issues, such as education and veteran funding. Over $40 Million has been committed so far to supportive regimes including youth empowerment, military financial access, health, volunteerism, and non-profit organizations.
Highland Capital is a self-described global alternative investment platform and a pioneer in the leveraged loan market. In addition to high-yield credit, Highland Capital’s investment capabilities include public equities, real estate, private equity, and special situations, structured credit, and sector/ region-specific verticals built around specialized teams. Highland Capital Management has offices in Buenos Aires, Rio de Janeiro, Singapore, and Seoul as well as its headquarters in Dallas.
Highland Capital Management LP is a US-domiciled firm headquartered in Texas that was co-founded by Mark Okada and James James Dondero in 1993. They are regulated with the Securities and Exchange Commissions (‘SEC’) and manage a number of closed-end funds, including the Highland Floating Rate Opportunities Fund (NYSE: HFRO). In August 2018,