Mr. Daugherty is responsible for developing and executing Glacier Lake’s strategic, underwriting and investment initiatives. He has over 24 years of experience in the credit markets and most recently managed over $8 billion in assets as a Partner at Highland Capital Management including levered institutional corporate loans (within over 30 CLOs), high yield corporate bonds, derivatives, and post-restructured equities.
Mr. Daugherty served on Highland’s credit committee and senior executive committee and was co-head of research. He was the founder and head of the stressed, distressed, and private equity groups. He also was head of restructuring for Highland’s U.S. $23 billion under management across all funds from CLOs, hedge funds, private equity funds and separate accounts.
He was the founder and designated portfolio manager for Highland Restoration Capital Partners, L.P. (a discrete distressed for control private equity fund), Tunstall Opportunities Fund, L.P. (a special situations and event-driven hedge fund which opportunistically trades in stressed and distressed debt and post-restructured equities), Highland Crusader Fund, L.P. (a multi-strategy hedge fund with focus on stressed, distressed and post-restructured equity investing), Highland Distressed Opportunities, Inc. (a NYSE listed business development company targeting par, stressed and distressed middle market debt), Restoration Opportunities Fund (a credit based regulated investment company), and Restoration Funding CLO (a hybrid CLO with a combination of broadly syndicated leveraged loans and middle market loans).
Additionally, Mr. Daugherty was a senior portfolio manager of numerous CLOs including Eastland CLO, Gleneagles CLO, Grayson CLO, Greenbriar CLO, Jasper CLO, Liberty CLO, PAMCO Cayman CLO, PAM Capital Funding CLO, Red River CLO, Southfork CLO, Stratford CLO and Westchester CLO.
As Head of Private Equity, Mr. Daugherty served on the board of directors of many companies including: Metro-Goldwyn-Mayer Studios, Inc., Cornerstone Healthcare Group Holdings, Inc. (as CEO and chairman), Mariner Healthcare, Inc., NexBank Holdings, Inc., Norse Merchant Group, Ltd., Safety-Kleen Systems, Inc., SunCom Wireless Holdings, Inc., and Turtle Bay Holding Company, LLC.
Prior to joining Highland, Mr. Daugherty served as Vice President in the corporate finance group at Bank of America where he originated and structured leveraged bank loan and corporate bond transactions.
He received a JD from the University of Houston School of Law and a BBA in finance from the University of Texas at Austin.
He has been a guest commentator on CNBC and Bloomberg Television and is a frequent speaker at conferences on the subject of distressed debt and private equity investing.