Monday, 30 November 2015
Last updated 2 days 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…