April 21, 2022
Patrick Daugherty, former Partner, Senior CLO Portfolio Manager and Head of Distressed/Special Situations at Highland Capital Management, today announced he is partnering with former portfolio managers and award-winning Highland team members Kevin Rourke and Niles Chura to resurrect the once industry-leading alternative credit investing platform as Highland ERA Management LLC (“New Highland”).
Read ArticleApril 13, 2022
Former Highland Capital Partner Patrick Daugherty is resurrecting an investment strategy he began two decades ago, as a 10-year legal battle recently resolved.
Read ArticleApril 8, 2022
Patrick Daugherty's planned resurrection of the Highland Capital brand is giving rise to an investment strategy that initially would see the Dallas operation veer away from its former identify as a collateral loan obligation issuer.
Read ArticleMarch 10, 2022
Highland Capital Management has struck an agreement with former partner Patrick Daugherty which results in Daugherty being awarded an ownership interest in the Highland platform, complete ownership of two Highland affiliates and a lump sum paymen
Read ArticleJune 16, 2020
Glacier Lake President and CIO Patrick Daugherty to be joined by Mark Mahoney, President and CIO of Gulf Stream Asset Management, and Peter Gleysteen, CEO and CIO of AGL, to discuss obstacles and opportunities in the current credit market.
The panel is schedule for Tuesday, June 16th at 9:00 AM (EST) with registration to the conference open to all at the following link: https://imnclosreg.hubb.me/
Read ArticleDecember 30, 2019
The founder of bankrupt hedge fund business Highland Capital Management LP is on his way out as part of a proposed settlement with the fund manager's unsecured creditors' committee.
Read ArticleDecember 9, 2019
Highland Capital Management will soon face a motion to appoint a Chapter 11 trustee from the US Trustee overseeing its case, in spite of the asset manager's efforts to reach a deal with its official unsecured creditors (UCC) on "a comprehensive change in debtors' management."
Read ArticleDecember 9, 2019
Glacier Lake President and Chief Investment Officer Patrick Daugherty discusses the impact of credit downgrades and their impact on tranche values.
Read ArticleDecember 3, 2019
Sontchi ordered the change in venue despite HCMLP's objections, at the behest of HCMLP's unsecured creditor's committee and Acis Capital Management, HCMLP's former CLO platform. The change in venue paves a path for HCMLP's creditors to pursue litigation against HCMLP and remove its president and co-founder, James Dondero.
Read ArticleDecember 2, 2019
Bankrupt fund manager Highland Capital Management LP lost its fight to keep its chapter 11 proceedings in Delaware. The founder of bankrupt hedge fund business Highland Capital Management LP is on his way out as part of a proposed settlement with the fund manager's unsecured creditors' committee.
Read ArticleOctober 22, 2019
Former Highland Capital Management, LP employees have proposed to step in and manage the firm following its Chapter 11 bankruptcy filing earlier this week.
Patrick Daugherty, who was the head of distressed investing and private equity at Highland Capital until 2011 and is currently president and chief investment officer at Glacier Lake Capital Advisors, has offered for his team to step in if necessary, he told LCD.
"I feel there is a solid platform with good people that just need the leadership to allow them to get back to focusing on investing, all while staying in Dallas," said Daugherty.
Read ArticleOctober 21, 2019
"If necessary, I have organized a management team consisting of former Highland partners and employees to operate Highland on a post-emergence basis," said Patrick Daugherty, a former partner at Highland and HCMLP's second largest unsecured creditor. Daugherty is president and chief Investment officer of Glacier Lake Capital Advisors. "I believe we can work collaboratively with existing creditors to accomplish a full recovery for all."
Read ArticleOctober 18, 2019
"Mr. Dondero for far too long has played a dangerous litigation game and the chickens have finally come home to roost," Ms. Patel said.
"The overwhelming body of evidence," she said, "is that Mr. Dondero is not worthy of placing the trust of the fate of 70-plus employees and hundreds of millions of dollars of creditors' claims in his hands to do as he wishes."
Read ArticleOctober 16, 2019
Mr. Daugherty, once one of Mr. Dondero's lieutenants, has been fighting with his employer in court since his departure in 2011. Mr. Daugherty won an award that he has been trying o collect since 2014.
"I have been fighting Highland and Dondero for eight years to redeem my name and get the compensation they took from me," Mr. Daugherty said. "I look forward to working with other creditors to make everyone whole."
Read ArticleNovember 28-30, 2018
October 31, 2018
Private equity firms are continuing to find new ways to potentially seize assets from first lien debtors, and as investors fail to push back in mass, fears are growing that these new lows in investor protections could become more commonplace.
Read ArticleOctober 29, 2018
Portfolio managers are demonstrating dangerous late cycle behavior as they reach for risky investments while competing to grow assets under management. This cycle's proliferation of "covenant-lite" and "collateral-lite" loan assets are likely to negatively impact recovery rates during the next economic downturn.
Read ArticleDecember 4, 2017
Glacier Lake President and Chief Investment Officer Patrick Daugherty discusses drivers for future returns of CLO equity at investor roundtable.
Read ArticleMay 17, 2016
Glacier Lake President and Chief Investment Officer Patrick Daugherty speaks on the challenges of managing a credit portfolio during uncertain times.
Read ArticleMay 4, 2016
The secondary market continues to price junior CLO tranches at distressed levels. Is that a fair valuation or a screaming buy? The panel discussion featured Patrick Daugherty, Glacier Lake Capital; Matthew Layton, Pearl Diver Capital; Amir Vardi, CSAM.
Read ArticleFebruary 11, 2016
A team of credit veterans led by ex-Highland Capital Management Partner Patrick Daugherty and Portfolio Manager Kevin Rourke is planning a unique fund which will have the ability to provide third-party risk retention financing to US CLOs.
Read Article