Alternative banking institutions have been growing over the past few years with individuals preferring to borrow from the alternative banks rather than investment banks. Alternative banking institutions have been offering affordable loan rates compared to banks. On the other hand, alternative banks have also do not ask for collateral from their customers making it even easier for medium and small enterprises to raise capital.
Highland Capital Management LP is one of the leading alternative banking institutions in the United States of America. Highland Capital Management LP was established in 1990 by its co-founders James Dondero and Mark Okada. The organization joined with Protective life Insurance Corporation to distribute its products and services in fixed income markets. The co-founders helped the company to grow, and in 1993 due to the expansion, it was experiencing it changed its name to Protective Asset Management Company (PAMC).
Later in 1997 James and Mark purchased Protective Life stake at PAMC and they established Ranger Asset Management LP. The organization was registered as an independent advisor as SEC. As the firm grew, it changed its name to Highland Capital Management. Highland Capital Management is one of the leading alternative banking institutions that primarily deal with credit plans including; separate accounts, credit hedge funds, and long-only funds. Other products that Highland offers include collateralized loan obligation, private equity, and special and distressed situations.
Highland Capital Management also provides alternative investment including; long and short term investments, markets as well as natural resources. The financial firm has been offering their products and services to diverse clients which include financial institutions, endowments, pension plans, funds -f funds, government, high-net-worth individuals, and corporations.
In 2000, Highland Capital Management launched its first bank loan fund, and the same year it also established its first alternative program. The expansion did not stop there as the two leaders led the organization to higher heights. In 2004 it entered into a mutual business fund with Columbia Asset Management. Highland Capital Management LP, has also been opening other location offices all over the world including Singapore, London, New York City, and Seoul. The investment institution has its Headquarters in Dallas, Texas.