Ex-TCW exec Gundlach gets backing from Oaktree
Jeffrey Gundlach, ousted early this month as chief investment officer of TCW, announced today he has established a strategic relationship with Oaktree Capital Management LP in which Oaktree will help his new firm, DoubleLine LLC, establish its own operational infrastructure.
In addition, Oaktree will receive a minority equity position in DoubleLine.
Mr. Gundlach was terminated by TCW Asset Management on Dec. 4. TCW announced his termination at the same time the firm reported that it was purchasing Metropolitan West Asset Management LLC.
Mr Gundlach served as TCW’s chief investment officer and lead portfolio manager in its high-grade fixed-income funds and accounts unit. After his departure from TCW, Mr. Gundlach indicated that he was looking to take some of his team members and set up shop elsewhere.
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