Sunday, 25 January 2015
Last updated 1 day ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…