Highland Capital Management Korea Ltd., an affiliate of Dallas-based alternative investment management firm Highland Capital Management, L.P., closed a healthcare-focused private equity fund, with approximately $147 million of total capital commitments.
South Korea’s National Pension Service (NPS) served as the anchor investor.
The private equity fund, the firm’s first healthcare sector-specific undertaken in Asia, will primarily invest in middle market healthcare companies in North America and Asia itself.
Stonebridge Capital, a Korean private equity and venture capital firm, which will co-manage the fund.
Founded in 1993 by Jim Dondero and Mark Okada, Highland Capital Management, L.P. is an SEC-registered investment adviser that, together with its affiliates, has approximately $15 billion of assets under management. The firm specializes in credit strategies, such as credit hedge funds, long only funds and separate accounts, distressed and special situation private equity and collateralized loan obligations (CLOs) and also offers alternative investments, including emerging markets, long/short equities and natural resources. Its diversified client base includes public pension plans, foundations, endowments, corporations, financial institutions, fund of funds, governments and high net-worth individuals. Highland is headquartered in Dallas, Texas and maintains offices in New York, Sao Paolo, Singapore and Seoul.