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INsider: Gundlach gets in TCW's grill

Bond guru throws a party in a most auspicious location

By Jason Kephart

Dec 6, 2012 @ 2:12 pm (Updated 2:27 pm) EST

Jeffrey Gundlach, TCW
(Photo: Bloomberg News)

Revenge is a dish best served cold — unless you're star fund manager Jeffrey Gundlach. In that case, it's best served in the office building of the firm that fired and then sued you.

On Tuesday, the three-year anniversary of Mr. Gundlach's very public dismissal from The TCW Group Inc., the famed investor threw a party for his new firm, DoubleLine Capital LP. The location? Magnolia, a Los Angeles restaurant that just so happens to be in the lobby of TCW's office building, according to a Dealbreaker report.

The setting was “deliberately chosen so everybody at TCW would have to walk past them on the way to the garage” and was meant to “send the message: In your face, TCW,” the report noted.

In case there was any doubt, the party also included a poster of the TCW executives Mr. Gundlach claims conspired to fire him from the firm, according to a New York Magazine report.

The poster was labeled Project G and used in last year's lawsuit over whether Mr. Gundlach stole TCW trade secrets on his way out. The case was settled out of court.

A spokesperson for TCW declined to comment on the party. But Mr. Gundlach did show that the get-together wasn't all about thumbing his nose at his former employers. According to the New York Magazine report, he gave his current employees a heartfelt toast, with Cristal in hand, of course.

"Three years ago, there were more than 40 of you who jumped off the diving board with me, believing that there would be water in the pool by the time you got there," he said, "I'll never forget that."

As the party shows, Mr. Gundlach doesn't forget many things.

  @IN Wire

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