Highland Capital Management, L.P. Announces Acquisition of European Investment Manager; Strategic Entry Into European Market; Global Assets Under Management Exceed $14 Billion.DALLAS -- Highland Capital Management, L.P. (Highland) announced today it has acquired ING Capital Management, Ltd. (ICML (International Conference on Machine Learning) An annual conference devoted to algorithms used in self-learning systems. Since its inception in 1983, ICML is held in North America or Europe. See ECML. ) from ING Wholesale Banking. ICML is a leading manager of Collateralized Loan Obligations (CLOs) in Europe, and is the investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and for the Copernicus Euro CDO-I B.V. and Copernicus Euro CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the - II B.V. funds. The transaction has received approval from the Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. . Terms of the transaction were not disclosed. With approximately euro 650 million in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , London-based ICML is an institutional alternative investment manager that specializes in managing portfolios of senior loans, mezzanine debt, and high yield bonds. "As one of the largest and top performing loan managers, Highland has played a leading role in the development of the US loan market for over a decade. Similarly, ICML has pioneered the development of the institutional loan market in Europe," said Jim Dondero, President of Highland. "ICML is the nucleus of a long-term, strategic commitment to Europe; we will invest significantly in growing its capabilities with local resources." Mark Okada, Chief Investment Officer of Highland commented "This acquisition creates real benefits for our investors. Copernicus' investors benefit from Highland's greater CLO CLO See: Collateralized Loan Obligation. management resources and demonstrated ability to deliver industry leading performance; Highland's investors gain enhanced access to Europe's rapidly developing leveraged finance market." As part of the transaction, ICML has been renamed Highland Capital Management Europe, Ltd. It is Highland's first subsidiary in Europe. Stephen Williams will continue his affiliation with the business, in the role of Portfolio Manager. Prior to working with ICML, Mr. Williams was a Partner with New York Life Capital Partners, where he had broad investment responsibilities related to both raising and managing funds focused on private placements, mezzanine debt and buyout related private equity investments. Founded in 1993, Highland Capital Management, L.P. is a privately held, registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in . With over $14 billion in assets under management, the firm is a recognized leader in alternative investments, with particular expertise in products such as senior secured loans, high yield bonds, mezzanine debt, structured products and special situation investing. For additional information, please visit our website at www.hcmlp.com. |
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