0001193125-18-042510.txt : 20180213 0001193125-18-042510.hdr.sgml : 20180213 20180213160813 ACCESSION NUMBER: 0001193125-18-042510 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20180213 DATE AS OF CHANGE: 20180213 GROUP MEMBERS: HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. GROUP MEMBERS: HIGHLAND GLOBAL ALLOCATION FUND GROUP MEMBERS: HIGHLAND SELECT EQUITY FUND GP, L.P. GROUP MEMBERS: HIGHLAND SELECT EQUITY GP, LLC GROUP MEMBERS: HIGHLAND SELECT EQUITY MASTER FUND, L.P. GROUP MEMBERS: HIGHLAND SMALL-CAP EQUITY FUND GROUP MEMBERS: JAMES D. DONDERO GROUP MEMBERS: MATT MCGRANER GROUP MEMBERS: NEXPOINT ADVISORS GP, LLC GROUP MEMBERS: NEXPOINT ADVISORS, L.P. GROUP MEMBERS: NEXPOINT REAL ESTATE STRATEGIES FUND GROUP MEMBERS: STRAND ADVISORS XVI, INC. GROUP MEMBERS: STRAND ADVISORS, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: RAIT Financial Trust CENTRAL INDEX KEY: 0001045425 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 232919819 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-53667 FILM NUMBER: 18603330 BUSINESS ADDRESS: STREET 1: TWO LOGAN SQUARE STREET 2: 100 N. 18TH STREET, 23RD FLOOR CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: (215) 207-2100 MAIL ADDRESS: STREET 1: TWO LOGAN SQUARE STREET 2: 100 N. 18TH STREET, 23RD FLOOR CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: RAIT INVESTMENT TRUST DATE OF NAME CHANGE: 20010227 FORMER COMPANY: FORMER CONFORMED NAME: RESOURCE ASSET INVESTMENT TRUST DATE OF NAME CHANGE: 19970904 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HIGHLAND CAPITAL MANAGEMENT LP CENTRAL INDEX KEY: 0001167365 IRS NUMBER: 752716725 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 300 CRESCENT COURT, SUITE 700 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 972-628-4100 MAIL ADDRESS: STREET 1: 300 CRESCENT COURT, SUITE 700 CITY: DALLAS STATE: TX ZIP: 75201 SC 13G 1 d680072dsc13g.htm SCHEDULE 13G Schedule 13G

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d-2

(Amendment No.     )*

 

 

RAIT FINANCIAL TRUST

(Name of Issuer)

Common Shares of Beneficial Interest, $.03 par value per share

(Title of Class of Securities)

749227609

(CUSIP Number)

December 31, 2017

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 749227609

    SCHEDULE 13G    Page 2 of 19 Pages

 

  (1)      

Name of reporting person

 

Highland Global Allocation Fund

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Massachusetts

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

2,219,361

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

2,219,361

  (9)      

Aggregate amount beneficially owned by each reporting person

 

2,219,361

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

2.4%

(12)  

Type of reporting person (see instructions)

 

IV, OO

CUSIP No. 749227609

    SCHEDULE 13G    Page 3 of 19 Pages

 

  (1)      

Name of reporting person

 

Highland Small-Cap Equity Fund

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Massachusetts

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

613,889

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

613,889

  (9)      

Aggregate amount beneficially owned by each reporting person

 

613,889

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

0.7%

(12)  

Type of reporting person (see instructions)

 

IV, OO

CUSIP No. 749227609

    SCHEDULE 13G    Page 4 of 19 Pages

 

  (1)      

Name of reporting person

 

Highland Capital Management Fund Advisors, L.P.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Massachusetts

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

2,833,250

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

2,833,250

  (9)      

Aggregate amount beneficially owned by each reporting person

 

2,833,250

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

3.0%

(12)  

Type of reporting person (see instructions)

 

IA, PN

CUSIP No. 749227609

    SCHEDULE 13G    Page 5 of 19 Pages

 

  (1)      

Name of reporting person

 

Strand Advisors XVI, Inc.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

2,833,250

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

2,833,250

  (9)      

Aggregate amount beneficially owned by each reporting person

 

2,833,250

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

3.0%

(12)  

Type of reporting person (see instructions)

 

HC, OO

CUSIP No. 749227609

    SCHEDULE 13G    Page 6 of 19 Pages

 

  (1)      

Name of reporting person

 

NexPoint Real Estate Strategies Fund

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

117,040

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

117,040

  (9)      

Aggregate amount beneficially owned by each reporting person

 

117,040

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

0.1%

(12)  

Type of reporting person (see instructions)

 

IV

CUSIP No. 749227609

    SCHEDULE 13G    Page 7 of 19 Pages

 

  (1)      

Name of reporting person

 

NexPoint Advisors, L.P.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

117,040

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

117,040

  (9)      

Aggregate amount beneficially owned by each reporting person

 

117,040

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

0.1%

(12)  

Type of reporting person (see instructions)

 

IA, PN

CUSIP No. 749227609

    SCHEDULE 13G    Page 8 of 19 Pages

 

  (1)      

Name of reporting person

 

NexPoint Advisors GP, LLC

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

117,040

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

117,040

  (9)      

Aggregate amount beneficially owned by each reporting person

 

117,040

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

0.1%

(12)  

Type of reporting person (see instructions)

 

HC, OO

CUSIP No. 749227609

    SCHEDULE 13G    Page 9 of 19 Pages

 

  (1)      

Name of reporting person

 

Highland Select Equity Master Fund, L.P.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Bermuda

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

1,741,521

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

1,741,521

  (9)      

Aggregate amount beneficially owned by each reporting person

 

1,741,521

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

1.9%

(12)  

Type of reporting person (see instructions)

 

PN

CUSIP No. 749227609

    SCHEDULE 13G    Page 10 of 19 Pages

 

  (1)      

Name of reporting person

 

Highland Select Equity Fund GP, L.P.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

1,741,521

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

1,741,521

  (9)      

Aggregate amount beneficially owned by each reporting person

 

1,741,521

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

1.9%

(12)  

Type of reporting person (see instructions)

 

PN

CUSIP No. 749227609

    SCHEDULE 13G    Page 11 of 19 Pages

 

  (1)      

Name of reporting person

 

Highland Select Equity GP, LLC

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

1,741,521

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

1,741,521

  (9)      

Aggregate amount beneficially owned by each reporting person

 

1,741,521

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

1.9%

(12)  

Type of reporting person (see instructions)

 

OO

CUSIP No. 749227609

    SCHEDULE 13G    Page 12 of 19 Pages

 

  (1)      

Name of reporting person

 

Highland Capital Management, L.P.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

1,741,521

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

1,741,521

  (9)      

Aggregate amount beneficially owned by each reporting person

 

1,741,521

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

1.9%

(12)  

Type of reporting person (see instructions)

 

IA, PN

CUSIP No. 749227609

    SCHEDULE 13G    Page 13 of 19 Pages

 

  (1)      

Name of reporting person

 

Strand Advisors, Inc.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

1,741,521

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

1,741,521

  (9)      

Aggregate amount beneficially owned by each reporting person

 

1,741,521

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

1.9%

(12)  

Type of reporting person (see instructions)

 

HC, CO

CUSIP No. 749227609

    SCHEDULE 13G    Page 14 of 19 Pages

 

  (1)      

Name of reporting person

 

James D. Dondero

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

United States

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

0

   (6)   

Shared voting power

 

4,691,811

   (7)   

Sole dispositive power

 

0

   (8)   

Shared dispositive power

 

4,691,811

  (9)      

Aggregate amount beneficially owned by each reporting person

 

4,691,811

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

5.0%

(12)  

Type of reporting person (see instructions)

 

HC, IN

CUSIP No. 749227609

    SCHEDULE 13G    Page 15 of 19 Pages

 

  (1)      

Name of reporting person

 

Matt McGraner

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☐

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

United States

Number of

shares

 beneficially 

owned by

each

reporting

person

with

    (5)       

Sole voting power

 

3,000

   (6)   

Shared voting power

 

0

   (7)   

Sole dispositive power

 

3,000

   (8)   

Shared dispositive power

 

0

  (9)      

Aggregate amount beneficially owned by each reporting person

 

3,000

(10)  

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐

 

(11)  

Percent of class represented by amount in Row (9)

 

Less than 0.1%

(12)  

Type of reporting person (see instructions)

 

IN

CUSIP NO. 749227609

    13G    Page 16 of 19 Pages

 

SCHEDULE 13G

This Schedule 13G (this “13G”) is being filed on behalf of Highland Global Allocation Fund, a series of Highland Funds II, a Massachusetts business trust (the “Global Fund”), Highland Small-Cap Equity Fund, a series of Highland Funds II, a Massachusetts business trust (the “Small-Cap Fund”), Highland Capital Management Fund Advisors, L.P., a Delaware limited partnership (“Highland Fund Advisors”), Strand Advisors XVI, Inc., a Delaware corporation (“Strand XVI”), NexPoint Real Estate Strategies Fund, a Delaware statutory trust (“NRESF”), NexPoint Advisors, L.P., a Delaware limited partnership (“NexPoint Advisors”), NexPoint Advisors GP, LLC, a Delaware limited liability company (“NexPoint Advisors GP”), Highland Select Equity Master Fund, L.P., a Bermuda limited partnership (“Select Fund”), Highland Select Equity Fund GP, L.P., a Delaware limited partnership (“Select GP”), Highland Select Equity GP, LLC, a Delaware limited liability company (“Select LLC”), Highland Capital Management, L.P., a Delaware limited partnership (“Highland Capital”), Strand Advisors, Inc., a Delaware corporation (“Strand”), James D. Dondero and Matt McGraner (collectively, the “Reporting Persons”).

Item 1(a). Name of Issuer:

RAIT Financial Trust (the “Issuer”)

Item 1(b). Address of Issuer’s Principal Executive Offices:

Two Logan Square, 100 N. 18th Street, 23rd Floor, Philadelphia, Pennsylvania 19103

Item 2(a). Name of Persons Filing:

This 13G is filed by and on behalf of each of the following persons: (1) Global Fund, (2) Small-Cap Fund, (3) Highland Fund Advisors, (4), Strand XVI, (5) NRESF, (6) NexPoint Advisors, (7) NexPoint Advisors GP, (8) Select Fund, (9) Select GP, (10) Select LLC, (11) Highland Capital, (12) Strand, (13) James D. Dondero and (14) Matt McGraner.

Item 2(b). Address of Principal Business Office or, if None, Residence:

The address of the principal business office of each of the Reporting Persons is 300 Crescent Court, Suite 700, Dallas, Texas 75201.

Item 2(c). Citizenship:

Mr. Dondero and Mr. McGraner are United States citizens. Global Fund and Small-Cap Fund are series of Massachusetts business trusts. Highland Fund Advisors, NexPoint Advisors, Select GP, and Highland Capital are Delaware limited partnerships. Strand XVI and Strand are Delaware corporations. NRESF is a Delaware statutory trust. NexPoint Advisors GP and Select LLC are Delaware limited liability companies. Select Fund is a Bermuda limited partnership.

Item 2(d). Title of Class of Securities:

Common Shares of Beneficial Interest, $.03 par value per share.

Item 2(e). CUSIP Number:

749227609

Item 3. If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:

Not applicable.

Item 4. Ownership:

(a) – (c)

CUSIP NO. 749227609

    13G    Page 17 of 19 Pages

 

The following beneficial ownership of each of the Reporting Persons as of December 31, 2017 is as follows:

 

Name of Reporting Person

    Amount
beneficially
owned		      Percent
of Class1		     Sole
Voting
Power		      Shared
Voting
Power		      Sole
Dispositive
Power		      Shared
Dispositive
Power		  

Highland Global Allocation Fund

      2,219,361        2.4 %      0        2,219,361        0        2,219,361  

Highland Small-Cap Equity Fund

      613,889        0.7 %      0        613,889        0        613,889  

Highland Capital Management Fund Advisors, L.P.

      2,833,250        3.0 %      0        2,833,250        0        2,833,250  

Strand Advisors XVI, Inc.

      2,833,250        3.0 %      0        2,833,250        0        2,833,250  

NexPoint Real Estate Strategies Fund

      117,040        0.1 %      0        117,040        0        117,040  

NexPoint Advisors, L.P.

      117,040        0.1 %      0        117,040        0        117,040  

NexPoint Advisors GP, LLC

      117,040        0.1 %      0        117,040        0        117,040  

Highland Select Equity Master Fund, L.P.

      1,741,521        1.9 %      0        1,741,521        0        1,741,521  

Highland Select Equity Fund GP, L.P.

      1,741,521        1.9 %      0        1,741,521        0        1,741,521  

Highland Select Equity GP, LLC

      1,741,521        1.9 %      0        1,741,521        0        1,741,521  

Highland Capital Management, L.P.

      1,741,521        1.9 %      0        1,741,521        0        1,741,521  

Strand Advisors, Inc.

      1,741,521        1.9 %      0        1,741,521        0        1,741,521  

James D. Dondero

      4,691,811        5.0 %      0        4,691,811        0        4,691,811  

Matt McGraner

      3,000        <0.1 %      3,000        0        3,000        0  

TOTAL

      4,694,811        5.0 %      3,000        4,691,811        3,000        4,691,811  

 

1. The percentages are based on 93,046,621 common shares of beneficial interest, par value $0.03 per share, outstanding as of November 6, 2017, which is the total number of common shares of beneficial interest outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 13, 2017.

Item 5. Ownership of Five Percent or Less of a Class:

Not applicable.

Item 6. Ownership of More Than Five Percent on Behalf of Another Person:

Not applicable.

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person:

Not applicable.

Item 8. Identification and Classification of Members of the Group:

See Exhibit 99.1.

Item 9. Notice of Dissolution of Group:

Not applicable.

Item 10. Certification.

Not applicable.

CUSIP NO. 749227609

    13G    Page 18 of 19 Pages

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 13, 2018

 

HIGHLAND FUNDS II, on behalf of its series Highland Global Allocation Fund
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
HIGHLAND FUNDS II, on behalf of its series Highland Small-Cap Equity Fund
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P.
By:   Strand Advisors XVI, Inc., its general partner
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
STRAND ADVISORS XVI, INC.
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
NEXPOINT REAL ESTATE STRATEGIES FUND
  By:   /s/ Brian Mitts
    Name: Brian Mitts
    Title: Authorized Signatory
NEXPOINT ADVISORS, L.P.
By:   NexPoint Advisors GP, LLC, its general partner
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
NEXPOINT ADVISORS GP, LLC
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory

CUSIP NO. 749227609

    13G    Page 19 of 19 Pages

 

HIGHLAND SELECT EQUITY MASTER FUND, L.P.
By:   Highland Select Equity Fund GP, L.P., its general partner
By:   Highland Select Equity GP, LLC, its general partner
By:   Highland Capital Management, L.P., its sole member
By:   Strand Advisors, Inc., its general partner
  By:    /s/ Scott Ellington
    Name: Scott Ellington
    Title: Authorized Signatory
HIGHLAND SELECT EQUITY FUND GP, L.P.
By:   Highland Select Equity GP, LLC, its general partner
By:   Highland Capital Management, L.P., its sole member
By:   Strand Advisors, Inc., its general partner
  By:   /s/ Scott Ellington
    Name: Scott Ellington
    Title: Authorized Signatory
HIGHLAND SELECT EQUITY GP, LLC
By:   Highland Capital Management, L.P., its sole member
By:   Strand Advisors, Inc., its general partner
  By:   /s/ Scott Ellington
    Name: Scott Ellington
    Title: Authorized Signatory
HIGHLAND CAPITAL MANAGEMENT, L.P.
By:   Strand Advisors, Inc., its general partner
  By:   /s/ Scott Ellington
    Name: Scott Ellington
    Title: Authorized Signatory
STRAND ADVISORS, INC.
  By:   /s/ Scott Ellington
    Name: Scott Ellington
    Title: Authorized Signatory
/s/ James D. Dondero
James D. Dondero
/s/ Matt McGraner
Matt McGraner
 EX-99.1 2 d680072dex991.htm EXHIBIT 99.1 Exhibit 99.1

Exhibit 99.1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including any and all amendments thereto) with respect to the common shares of beneficial interest of RAIT Financial Trust, and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings.

The undersigned further agree that each party hereto is responsible for the timely filing of such statement on Schedule 13G and any amendments thereto, and for the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate.

This Joint Filing Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.

IN WITNESS WHEREOF, the undersigned have executed this Joint Filing Agreement as of February 13, 2018.

 

HIGHLAND FUNDS II, on behalf of its series Highland Global Allocation Fund
  By:    /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
HIGHLAND FUNDS II, on behalf of its series Highland Small-Cap Equity Fund
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P.
By:   Strand Advisors XVI, Inc., its general partner
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
STRAND ADVISORS XVI, INC.
  By:   /s/ Frank Waterhouse
    Name: Frank Waterhouse
    Title: Authorized Signatory
NEXPOINT REAL ESTATE STRATEGIES FUND
  By:   /s/ Brian Mitts
    Name: Brian Mitts
    Title: Authorized Signatory

NEXPOINT ADVISORS, L.P.

By:

   NexPoint Advisors GP, LLC, its general partner
  By:   

/s/ Frank Waterhouse

   

Name: Frank Waterhouse

   

Title: Authorized Signatory

NEXPOINT ADVISORS GP, LLC

  By:  

/s/ Frank Waterhouse

   

Name: Frank Waterhouse

   

Title: Authorized Signatory

HIGHLAND SELECT EQUITY MASTER FUND, L.P.

By:

   Highland Select Equity Fund GP, L.P., its general partner

By:

   Highland Select Equity GP, LLC, its general partner

By:

   Highland Capital Management, L.P., its sole member

By:

   Strand Advisors, Inc., its general partner
  By:  

/s/ Scott Ellington

   

Name: Scott Ellington

   

Title: Authorized Signatory

HIGHLAND SELECT EQUITY FUND GP, L.P.

By:

   Highland Select Equity GP, LLC, its general partner

By:

   Highland Capital Management, L.P., its sole member

By:

   Strand Advisors, Inc., its general partner
  By:  

/s/ Scott Ellington

   

Name: Scott Ellington

   

Title: Authorized Signatory

HIGHLAND SELECT EQUITY GP, LLC

By:

   Highland Capital Management, L.P., its sole member

By:

  

Strand Advisors, Inc., its general partner

  By:  

/s/ Scott Ellington

   

Name: Scott Ellington

   

Title: Authorized Signatory

HIGHLAND CAPITAL MANAGEMENT, L.P.

By:

  

Strand Advisors, Inc., its general partner

  By:  

/s/ Scott Ellington

   

Name: Scott Ellington

   

Title: Authorized Signatory

STRAND ADVISORS, INC.

  By:  

/s/ Scott Ellington

   

Name: Scott Ellington

   

Title: Authorized Signatory

/s/ James D. Dondero

James D. Dondero

/s/ Matt McGraner

Matt McGraner