An affiliate of the Dallas-focused investment firm, Highland Capital Management, LP, the counterpart, Highland Capital Management recently closed a massive deal that focuses on healthcare private equity funds. This venture totals $147 million in commitments and the main investor is South Korea’s National Pension Service. Beginning in 1988, the NPS is currently valued at 565 trillion dollars. Another investor, the Sovereign Wealth Fund Institute reports that they are worth an impressive $465 billion.
Very specific details are outlined in this venture and are agreed upon amongst investors. Strategic business objectives for Korea, the United States as well as China are in place and other investment opportunities are also an option. This is the first time that Highland Capital Management has embarked on a healthcare-focused venture dealing with private equity. Up until now, investments were made from direct funds or from multi-purpose funds.
Carl Moore is the managing director for Highland Capital’s private equity group and he feels that the strategy associated with fund placement has been well planned out. With the firm being as experienced as it is within the health care sector, this is the perfect industry to target. The majority of targeted healthcare companies are currently located in Asia as well as North America.
Highland Capital Management currently has $15 billion in AUM with a large focus in credit strategies, hedge funds, private equity in distressed and special situation forms. Alternative investments are also an option along with long equities, short equities, natural resources and also emerging market funds.