Acis Capital Management Appointed Collateral Manager of Hewett's Island CLO I-R

DALLAS, Aug. 10, 2011 /PRNewswire/ -- Acis Capital Management, L.P. ("Acis"), an affiliate of Highland Capital Management, L.P. ("Highland") announced today that it is now the successor Collateral Manager of Hewett's Island CLO I-R Ltd ("Hewett"), with approximately $243 million of assets under management. Acis assumed the role as Hewett's collateral manager after a majority of the subordinated noteholders nominated the firm for the role.

"We continue to be strong proponents of the CLO markets," said Josh Terry, Portfolio Manager at Acis. "We are honored by our selection as manager of this CLO and believe we are well positioned to improve its credit quality and performance."

The transaction, completed July 18, raises Highland and its affiliates' total CLO assets under management to $17.5 billion, comprised of 27 different CLO vehicles.

About Highland Capital Management, L.P. and Acis Capital Management, L.P.

Highland Capital Management, L.P. is a SEC-registered investment adviser with approximately $23 billion of assets under management. It is one of the largest and most experienced global alternative credit managers, specializing in bank loans, high yield credit, distressed debt, structured products, real assets, and long-short equities. Acis Capital Management, L.P. is an affiliate of Highland, and Highland is a sub-advisor to Acis.

Highland's diversified client base includes public pension plans, foundations and endowments, corporations, financial institutions, fund of funds, governments, high net worth individuals, and mutual fund investors. To best meet the different goals of these investors, Highland offers a variety of product types, including credit funds, private equity-style funds, managed separate accounts, hedge funds, retail mutual funds, and collateralized loan obligations (CLOs).

Highland is headquartered in Dallas, Texas and maintains offices in New York, London and Singapore.

SOURCE Acis Capital Management, L.P.