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Rating:Gundlach & Stern BFFs? LMFAO! Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 10, 2012

Gundlach & Stern BFFs? LMFAO!

News summary by MFWire's editors

The recent settlement between warring Los Angeles bond shops DoubleLine Capital [profile] and TCW Group [profile] opens the door to institutional mandates and other possible sales. That is what consultants are telling Pensions & Investments.

Jeffrey MacLean, president of Wurts & Associates, a Los Angeles-based investment consultant told the pub that he would consider suggesting DoubleLine to clients for appropriate mandates in the future.

"The ending of the lawsuit makes it easier for us to recommend his firm," he said.

Angeles Investment Advisors (Santa Monica) CIO Michael Rosen also sees the settlement removing business risk from the DoubleLine equation.

DoubleLine chief Jeff Gundlach himself tells the pub that the whole case was a non-issue.

"DoubleLine has been one of the most successful investment management startups in the history of the industry in terms of both performance and growth in assets under management," he emailed P&I.

"Elimination of the nuisance created by TCW is irrelevant to DoubleLine's future just as the nuisance was a non-issue in the establishment of our strong culture of teamwork, client focus and investment excellence."

From Societe Generale's perspective the settlement eases a sale or IPO of TCW, says Geoffrey Bobroff of Bobroff Consulting. SocGen is the owner of TCW. 

Edited by: HFD

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