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.

RELATED STORIES

Highland To Shutter Two Hedge Funds


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

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...