Highland Capital Management, a James Dondero firm has hit the headlines once more. This time, the firm was expressing its interests in acquiring a notable amount of Argentina’s stocks. After a period of financial difficulties and poor economic choices, Argentina is set to reenter the international bond markets early next month. The country plans to raise around $12 billion through the sales of its stocks. Currently, James Dondero’s asset management firm has over $19 billion worth of assets under its management. The major products that make these high amount assets for this firm are credit hedge funds and credit funds in emerging markets. Jim that is James Dondero has said that his firm will be looking forward to getting the lion’s share of Argentina’s securities.
Highland Capital Management is a Dallas-based hedge fund management that deals with assets acquisition and management all over the world. This firm has a stable history in Argentina’s economy having previously acquired over $4 billion worth of notes that will mature in 2033. Jim Dondero said that his firm plans to continue holding its original bonds as it also looks to buy some newly issued bonds. He also expressed his optimism that the price of Argentina’s debt would be relative to the current world economic trends and at the same level with those of other Latin American sovereigns. The country will sell out bonds worth $11.68 billion, and it expected a profit of between 7.5 to 8 percent by mid-April.
Highland Capital Management is also expected to be among the biggest beneficiaries of the debt payment ban lift on Argentina. James Dondero said that his firm had already made its annual returns on Argentina bonds of approximately 20 % since it purchased them in June 2014. He said that from his more than 30 years experience as credit and equity marketer, this move by Argentina will have positive implications for the countries economy. As an equity and credit marketer, James Dondero who has developed expertise in the high-yield and distressed investing sectors said that his firm is ready to do business with Argentina again.
James Dondero founded Highland Capital Management in 1993, and it fast became the provider of Collateralized Loan Obligation in the market. James Dondero has been playing the leading role in the firm since its formation and also in the business industry. James Dondero has previously worked as a Chief Investment Officer, Corporate Bond Analyst and Portfolio Manager for different American firms before he launched into entrepreneurship.