One of the founders of the equities arm at DoubleLine Capital [profile] is flying the coop.

Husam Nazer is leaving the firm, with his last official day being June 30th, Loren Fleckenstein, an analyst at DoubleLine Capital, confirmed for MFWire.

Nazer was portfolio manager of the DoubleLine Equities Small Cap Growth Fund.

Jeffrey Gundlach hired both Nazer and Brendt Stallings from TCW, where they were both managing directors, to launch DoubleLine's equity business.

Fleckenstein said that with Nazer's departure, the fund's board of trustees decided to close the fund to new investments on May 29th. The fund’s liquidation date will be June 30th. 

"We wish Husam every success in his new venture and thank him for his leadership, along with Brendt Stallings, in establishing DoubleLine Equity. We also congratulate him on the performance of the equities small cap growth fund. The fund outperformed its benchmark by nearly 300 basis points while it was open to investors. I think that excellent performance managing the fund is one of the reasons why Husam got this well-deserved opportunity," Fleckenstein said.

Regarding the firm's equity operations, Fleckenstein said that "within the equities universe, we're ­focused on our smart-beta strategy, the DoubleLine Shiller Enhanced CAPE Fund, which combines an actively  managed fixed income portfolio, with a rules-based value stock strategy, and the DoubleLine Equities Growth fund, managed by Brendt Stallings and his dedicated analytical and trading team. These are unique, scalable strategies."

As of press time, MFWire couldn't reach Nazer for comment regarding where he will work next.

DoubleLine doesn't intend to replace Nazer. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE