The name Ranger Asset Management was short-lived, and within a year, the founders renamed the firm Highland Capital Management, L.P.

In May 1997, as the company began to take off, Mr. Dondero and Mr. Okada purchased Protective Life’s stake in PAMCO and established Ranger Asset Management, L.P. as an independent…

Under Mr. Dondero and Mr. Okada’s management, PAMCO issued one of the first non-bank collateralized loan obligations (CLO), pioneering the CLO market. Since then, the firm (which later became Highland)…

Within a year of finalizing the PAMCO agreement, Mr. Dondero and Mr. Okada moved the firm to Dallas, Texas. The new headquarters put the firm closer to the finance capital…

The joint venture evolved into Protective Asset Management Company (“PAMCO”), an SEC registered investment advisor, owned 60% by Protective Life and 40% by the founding partners.

In January 1990, founding partners James Dondero and Mark Okada formed a joint venture with Protective Life Insurance Corporation. Operating out of Los Angeles, California, the joint venture specialized in…