Highland Capital Management has decided to shutter two
credit hedge funds following dismal performance and the
reported seizure, by Barclays Capital on Wednesday, of $642
million in leveraged loans held by the firm.
Dallas-based Highland is closing its flagship Highland
Crusader Fund and the Highland Credit Strategies fund, both of
which have suffered sizeable losses and redemptions amid the
The firm, in a letter to investors, expressed the opinion
that it would be more prudent to...