Highland Capital Management, L.P. is one of the leading investment management companies in Dallas, Texas. Over time, Highland has opened several branches across the world, making it more successful as it strives to increase its client base. Highland Capital Management Korea Ltd, a business unit of the Dallas-based investment management firm has recently launched a $147 million healthcare-oriented equity fund.
The fund would be administered by South Korea’s National Pension Service (NPS). Besides returns on the investment, investors partnering with the NPS to fund the Highland’s initiative have specific goals in the healthcare space. They include access to opportunities for co-investment, which helps them to serve their strategic objectives in the U.S., China, and Korea.
In Asia, Highland will work in close collaboration with Stonebridge Capital, a venture capital and private investment firm based in Korea to co-manage the healthcare-oriented equity fund. In fact, this is the first healthcare-focused private equity fund in Asia. While many investors in Asia have expressed their interest in investing in a healthcare-oriented equity fund, most of these investments are made via a multi-purpose fund or on a direct basis.
Carl Moore, the managing director of Highland Capital Management, says that the company’s core capabilities align well with the fund’s strategy. That will help leverage the company’s extensive expertise in the healthcare industry. He adds that healthcare is Highland’s largest industry exposure. In fact, nearly half of the company’s track record in private equity fund relates to healthcare companies.
The fund targets the middle-market healthcare businesses in Asia and North America. Currently, Highland Capital Management manages over $1.5 billion worth of healthcare assets.
Matt Jameson, Highland’s managing director of private equity, says that disruptive forces within the U.S. healthcare sector will acutely affect middle-market companies. Again, America’s graying demographics and increased access to healthcare facilities throughout Asia are driving more demand for healthcare-oriented equity fund and greater utilization levels. Currently, Highland Capital Management specializes in credit hedge funds and collateralized loan obligations as well as alternative investment opportunities in the form of emerging markets and access to natural resources.