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No Opps In Highland Opportunity Fund

Bloomberg reports that Dallas-based Highland Capital has shot for and scored the trifecta: the firm will be closing its third fund since October. This time its the CDO Opportunity Fund LP, which was "wiped out by losses on high-risk debt securities" and will be wound down, with remaining assets being distributed to creditors, and sad trombones being distributed to shareholders. According to those in charge of the we lost all your money letter, the matter of insolvency occurred due to "the unprecedented market volatility and disruption to the financial system," which sounds familiar because its what they said when they closed the Highland Credit Strategies Fund and the Highland Crusader Fund.