Stethoscope

Highland Capital Management launches non-traded product line

Fri, 22/08/2014 - 06:00

Highland Capital Management has launched a non-traded product line with a publicly-registered business development company (BDC) NexPoint Capital.

The BDC will be the industry’s first healthcare-focused fund of its kind with a target raise of USD1.5bn in capital for investing primarily in medium-sized businesses.
 
NexPoint Capital represents Highland’s initial non-traded product with the company announcing plans to introduce additional non-traded products later this year. The BDC will be distributed by Highland Capital Funds Distributor and will be led by Brad Ross, president of Highland Funds, and Brian Mitts, chief operating officer of NexPoint Advisors and head of business development for Highland’s alternative products.
 
“We believe alternative products offer a compelling, income producing and non-correlated investment option for investors,” says Mitts. “We’re confident our current suite of liquid alternative mutual funds combined with the non-traded products we’ll be launching over the next few months will offer independent advisors one of the industry’s strongest and most robust product line-ups.”
 
As part of the firm’s expansion into non-traded products, Highland hired Jennifer Ricci as director of national accounts in February, and has added eight wholesalers for the wire house channel and five wholesalers for the independent channel to augment its distribution team. 


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