Highland Capital names changes to portfolio management teams

By Susanna Moon

Chicago, April 1 - Highland Capital Management, LP announced changes to the portfolio management teams of Highland Credit Strategies Fund, Prospect Street High Income Portfolio Inc., Prospect Street Income Shares Inc. and Highland Distressed Opportunities, Inc.

Brad Borud has assumed the role of chief investment officer - retail products at Highland.

Mark Okada, Kurtis Plumer and Borud will manage Highland Credit Strategies Fund. Okada and Plumer are currently part of the portfolio management team for Highland Credit Strategies Fund.

Borud and R. Joseph Dougherty will manage Prospect Street High Income Portfolio and Prospect Street Income Shares. Dougherty is a board member of Prospect Street High Income Portfolio and Prospect Street Income Shares and a partner and head of retail products at Highland.

Borud, Patrick Daugherty and Greg Stuecheli will manage Highland Distressed Opportunities. Daugherty is part of the portfolio management team for Highland Distressed Opportunities. Stuecheli is a senior portfolio manager at Highland.

Okada is a founder and chief investment officer of Highland, overseeing investment activities with more than 20 years of experience in the credit markets. Before co-founding Highland, Okada was manager of fixed income for the GIC subsidiary of Protective Life Insurance, where he was responsible for the bank loan portfolio and other risk assets.

Okada also was vice president at Hibernia National Bank, managing a portfolio of high-yield loans in excess of $1 billion. He has degrees in economics and psychology from the University of California Los Angeles.

Plumer is a partner and senior portfolio manager at Highland with more than 14 years of experience in distressed, high-yield bond and leveraged loan products. Before joining Highland in July 1999, Plumer was a distressed high-yield bond trader at Lehman Brothers in New York, where he managed a portfolio of $250 million in global distressed securities. While at Lehman, he also traded emerging market sovereign bonds.

Plumer also was a corporate finance banker at NationsBanc Capital Markets, Inc. (now Bank of America Capital Markets, Inc.) where he focused on mergers and acquisitions and financing. Plumer received a Master of Business Administration from the Kellogg School at Northwestern University and a bachelor's degree in economics and finance from Baylor University.

Borud is a partner, senior trader and chief investment officer - retail products. His experience at Highland includes work as a senior trader and co-director of portfolio management for Highland, portfolio manager and team leader and portfolio analyst.

Before joining Highland in November 1996, Borud was a global finance analyst at NationsBank where he was involved in the originating, structuring, modeling and credit analysis of leveraged transactions. He has a bachelor's degree in business finance from Indiana University.

Dougherty is a portfolio manager, senior vice president, trustee and director of Highland's New York Stock Exchange-listed funds and 1940 Act registered funds. He also is a portfolio manager for Highland's sub-advised closed-end funds and was a portfolio analyst. He was an investment analyst with Sandera Capital Management, a business development manager at Akzo Nobel and a senior accountant at Deloitte & Touche, LLP. He received an MBA from Southern Methodist University and a bachelor's degree in accounting from Villanova University.

Daugherty is a partner, senior portfolio manager and head of distressed and special situations investing at Highland. His responsibilities include managing the distressed investments group and co-managing the private equity investments group. He was formerly general counsel to Highland.

Before joining Highland in April 1998, Daugherty was vice president in the corporate finance group at Bank of America Capital Markets, where he originated and structured leveraged transactions of mid-cap companies located in the Southwest. Daugherty has more than 15 years of experience in distressed, high-yield and corporate restructuring. He received a law degree from University of Houston School of Law and a bachelor's degree in finance from University of Texas at Austin.

Stuecheli is a senior portfolio manager at Highland. He was a portfolio manager for Highland covering distressed and special situation credit and equity investments. Before joining Highland in June 2002, Stuecheli was an analyst for Gryphon Management Partners, LP, where he researched long and short investment ideas. He also worked as a chemical engineer at Jacobs Engineering Group and Cytec Industries. He has an MBA from Southern Methodist University and a bachelor's degree in chemical engineering from Rensselaer Polytechnic Institute.

Highland Capital is a Dallas-based company that specializes in alternative fixed-income investments.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.