Mark Okada, co-founder and co-chief investment officer of alternative credit manager Highland Capital Management, will retire at the end of 2019, the company announced on Monday.
Mr. Okada will assume a senior advisory role through the end of the year to ensure a smooth transition. He will retain his ownership stake after he retires.
James Dondero, Highland president and co-founder, will assume the role of co-CIO after Mr. Okada retires, overseeing the firm's $10 billion in assets with co-CIO Joseph Sowin. Mr. Dondero will continue to serve as president.
Highland Capital spokeswoman Lucy Bannon could not be immediately reached for additional comment.