Highland Cap Raising PE Fund

Highland Capital Management, a Dallas-based asset management firm known best for its hedge funds, is raising its first private equity partnership that will seek to take controlling positions in distressed securities, according LBO Wire. The firm is seeking to raise $1 billion for Highland Restoration Capital Partners LP, which will invest mainly in the bank loans of U.S. mid-market companies with revenue ranging from $250 million to $1 billion, though it has a sweet spot of $500 million. www.hcmlp.com