Highland Capital CEO, James Dondero is looking into further investing in Argentina and is excited for the country to reenter the global investment market. James Dondero has also expressed that he would like to look at investment opportunities in the country other than its sovereign debt. Dondero has even claimed that he would consider starting a fund in the country. And James Dondero is not the only investor who holds Argentina’s defaulted debt and is highly considering re-investing in the country after he is paid.
This excitement for investment in Argentina is a big relief to Argentina and its government as they are trying to sell of an unparalleled amount of debt. The sale of these debt, almost 12 billion dollars in total, is in order to pay out older settlements to individuals like Paul Singer. But the fact that they are following through with the settlement and making the effort to pay out is only encouraging other investors to keep their investments in Argentina, even as they escape default. Dondero has made it clear that they will hold on to the original bonds that they have from Argentina but they would be very interested in buying more of the new issuance. Jim Dondero and other investors are hoping and expecting that Argentina will price the debt fairly and competitively with the other Latin American nations.
James Dondero founded his firm in 1993, after buying it from Protective Life. Jim has built his firm around 3 principles that he strongly believes has made it the success it is today. The first principle is the idea that he, his employees and his firm as a whole need to be experienced. Jim Dondero has created experience in the firm by pioneering the CLO and loan market and eventually becoming the biggest CLO manager in the United States. And since the founding of the firm in 1993, it has been tested and proven to be one of the most experienced credit managers that provides alternative investments by numerous credit cycles. The second principle is discipline. The firm has been able to integrate discipline into its working by being co-invested and transparent as well has having an intricate system of checks and balances they helps them avoid risk. The last principle is boldness, which can be seen through the firm’s independence.
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For those who would like to read the article: http://www.bloomberg.com/news/articles/2016-03-08/argentina-luring-highland-shows-distressed-bond-buyers-to-stay