Which is a mere 6 years after they asked for it back, so, not much to complain about here.
Highland Capital Management LP, the $23 billion investment fund run by James D. Dondero and Mark K. Okada, said it will take another three years to return most of the money from a hedge fund it froze during the financial crisis in 2008. Highland will immediately return about $350 million in cash to clients from its Crusader Fund and the remaining $1.3 billion over the next three years, John Honis, a partner at the Dallas- based firm said in a statement today. The distribution plan was approved by about 86 percent of the fund’s investors, it said. Highland shut its flagship Crusader fund, as well as a second fund, in October 2008 following losses on high-yield, high-risk loans and other types of debt. The firm said at the time that the funds would be liquidated over three years.