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Highland Capital Management co-founder to retire

Dallas-based Highland Capital Management LP co-founder Mark Okada is set to retire at the end of 2019.

Okada, who also is co-chief investment officer, will take on a senior advisory role through year-end to help with the transition. He will keep his ownership stake after he retires.

Highland Capital President and co-founder James Dondero will take over as co-chief investment officer after Okada's retirement. Okada had previously transitioned various responsibilities to senior leaders on the credit research and structured products teams and to co-Chief Investment Officer Joe Sowin, who oversees the platform's day-to-day investment activities.