Highland announces liquidation of CLO Value Fund

Congratulations to Highland for a great return and to their investors for bring brave enough to invest in CLOs when others were being fearful.

This is simple - 1) they wanted/needed the incentive fee money, 2) by publicizing such a big number, they hope to raise a lot of money for a new fund. Market timing? I think not, more like Highland-business-re-building timing.

I agree that they've timed it well with respect to both the launch of the fund and their decision to close it. Perhaps the recovery has a bit more steam but thier downside risk is much greater at this point.

Timing looks good. Those legs are getting tired!

I thought the recovery had more legs? Strange they closed it. Although that incentive fee must have been difficult not to monetize. Good for cowboys!