Highland Capital Management, L.P. started its mutual fund business in 2004. The mutual funds are now managed by an affiliated adviser, Highland Capital Management Fund Advisors, L.P. As of December 2013, Highland Capital Management Fund Advisors has 14 mutual funds under management. The firm manages alternative, equity, fixed income, and asset allocation funds for its clients.

The global alternative credit manager was founded in 1993 by Jim Dondero and Mark Okada, Highland’s strategies include collateralized loan obligations (CLOs), alternative mutual funds, distressed private equity, hedge funds, natural resources, long-only funds and separate accounts.