Highland Capital Cuts Staff By More Than 10%

Oct 24 2008 | 10:32am ET

Highland Capital Management has slashed more than 10% of its workforce, just a week after shuttering a pair of funds.

The $35 billion Dallas hedge fund laid off more than 30 people this week, the Dallas Morning News reports. It is unclear whether the job cuts are related to the fund closures—last week, layoffs, Highland boasted about 290 employees, with 250 based in its Dallas headquarters.

Last week, Highland said it would close its Crusader Fund and Credit Strategies Fund, which held a combined $1.5 billion in assets, liquidating their portfolios over the next three years. The move came after Barclays Capital seized $642 million in loans from Highland and sold them at auction.

Highland said a retail closed-end fund that also goes by the name Highland Credit Strategies continues to operate and was not affected by the hedge fund closures.


Highland To Shutter Two Hedge Funds

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...