November 30, 2011 |
The French parent of TCW Group Inc. said Tuesday that the Los Angeles investment firm is not for sale. The declaration by Societe Generale came in response to a report by Bloomberg News, which quoted anonymous sources saying the French bank may put the U.S. money manager up for sale, or potentially strike a deal for a management-led buyout. "Societe Generale's plans for TCW have not changed," SocGen said in a statement. "TCW is not for sale, and we continue to believe that TCW is on a trajectory for strong and sustained growth.
September 17, 2011 |
He was cast as the epitome of Wall Street greed, but in the end a jury sided with star money manager Jeffrey Gundlach's claim that he wasn't paid enough. In a bitter court battle that pitted Gundlach against his longtime employer, Los Angeles investment giant TCW Group Inc., jurors delivered verdicts Friday that left both sides claiming victory. The panel largely agreed with TCW's side of the case, yet ordered the firm to write a $67-million check to Gundlach and three lieutenants for back pay, while TCW's own demand for damages was denied.
June 26, 2010 |
DoubleLine Capital, the L.A. money management firm founded by ex-TCW Group executive Jeffrey Gundlach in December, said Friday that its flagship bond mutual fund had accumulated $1 billion in assets in less than three months. The milestone may help Gundlach as he seeks to attract investors who had invested with him at TCW before the firm ousted him in a bitter breakup Dec. 4. The DoubleLine Total Return Bond fund has been the fastest-growing new mutual fund of 2010, according to Morningstar Inc. The fund, which invests mostly in mortgage-backed securities, was launched April 6 and is up 7.4% since then, according to Bloomberg News data.
December 15, 2009 |
Ousted by Los Angles financial giant TCW Group, star bond fund manager Jeffrey Gundlach on Monday turned to a firm whose executives had their own bitter breakup with TCW nearly 15 years ago. Gundlach said that he was launching an investment firm called DoubleLine with help from Oaktree Capital Management, a major global investor in bonds and private equity. L.A.-based Oaktree was formed by Howard Marks, Bruce Karsh and a handful of other TCW money managers in 1995, in a move that TCW founder Robert Day at the time branded as "disloyal at the very least."
September 20, 2012 |
Star bond fund manager Jeffrey Gundlach is used to winning, but he just suffered a $10-million hit in the most unexpected way. Returning to his posh Santa Monica home after a business trip to New York this week, he found a blank space on the wall where a cherished landscape by William Wendt once hung. He then noticed more blank spaces where he had part of his multimillion-dollar art collection. The crooks even drove away in his red Porsche Carrera - and shut the garage door on the way out. Gundlach, heralded on Wall Street for his bond investing prowess, is the founder of DoubleLine Capital in Los Angeles.
June 13, 2006
XM Satellite Radio Holdings Inc.'s fifth-largest shareholder, Los Angeles-based investment manager TCW Group Inc., sold almost its entire stake in the broadcaster, according to a regulatory filing. TCW had owned 5.2% of XM's stock as of March 31.