Highland Capital Management Ltd had an outstanding year last year financially. The Dallas firm made profitable investments in a year, creating especially essential partnerships in the pipeline industry when oil prices dipped earlier in the year. Currently, they manage around 15.4 billion dollars, despite being worth only 55 million dollars in assets. This speaks to the exponential growth they experienced in the past year.
And now, the firm looks to claim a stake in the healthcare sector. Through their South Korea subsidiary Highland Capital Management Korea Ltd, and in conjunction with the country’s National Pension Service, the company announced that it had closed a private equity fund focused solely on healthcare. This fund, which was announced earlier this year, will hold 147 million dollars in total capital commitments. Highland Capital Management Korea’s Partner in the deal the South Korean National Pension Services is estimated to be worth 499.7 billion dollars, with some analysts placing this value a bit lower at 463.13 billion dollars.
This fund is expected to offer investors an opportunity to increase their investment returns by co-investing in different areas in the healthcare sectors of countries such as Korea, China, and the United States. Stonebridge Capital is the South Korean firm that will co-manage the fund with Highland Capital. It is the first time that the Highland Capital Management Ltd is venturing into the healthcare sector in Asia. The decision has been informed by an increased interest in the industry among Asian investors, especially over the two years, and a lack of firms to facilitate investment in the sector.
Highland Capital Management was founded in 1993 by James Dondero and Mark Okada. Since then, it has grown to become one of the world’s leading and most experienced alternative credit managers. They offer services in the management of hedge funds, separate accounts and long-only funds in the credit strategies category and special-situation and distressed equity as well as collateralized loan obligations, known as CLO’s. They serve a diverse range of clients including corporations, individuals, foundations, financial institutions, endowments, governments, funds of funds, high net worth individuals among many others. With their headquarters in Dallas, Texas, the firm has offices in New York City, Singapore, Seoul and Sao Paolo.