Reuters is reporting some very interesting news. The President of Highland Capital Management, James Dondero, has recently purchased a very large stake in Pendell. The amount of stock Dondero purchased is in the 11% stake range, a significant amount.
Based in Washington, DC, Pendrell is a company that both directs investment funds towards and oversees the development of businesses. Specifically, the company is involved with businesses known for creating innovative technologies. Technology startups and small to mid-sized businesses frequently require infusions of capital and managerial help. Pendrell steps up to deliver that necessary assistance.
In addition to acting as the President of Highland Capital Management, James Dondero currently serves as the President and Chairman of Board of Directors at NexPoint Hospitality Trust Inc. These are only two of the major financial institutions Dondero is involved with. His has a long and impressive career in the financial industry. The recent news of his deal with Pendrell reveals Dondero continues to be very active with no immediate intentions of slowing down his activity.
A graduate of the University of Virginia, Dondero is a board member with 11 different companies. He has scores of affiliations with a wide range of different companies. His acquisition of 11% in Pendrell stock would indicate the company is like to be on strong footing for the future. Otherwise, Dondero would not be very interested in purchasing up so many shares.
The stake that Dondero purchased in the company is a passive one. The transaction was completed on the 4th of August.
This article recapped http://www.reuters.com/article/idUSFWN1AQ110