Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:DoubleLine Just Surpassed Its Funder Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, May 5, 2016

DoubleLine Just Surpassed Its Funder

News summary by MFWire's editors

They grow up so fast.

Howard Marks
Oaktree Capital Management
Co-Chair
Jeffrey Gundlach and his team now manage more money than the very company that funded them at birth less than seven years ago.

Howard Marks, co-chair of Oaktree Capital Management, publicly confirmed yesterday that last month DoubleLine Capital [profile] passed Oaktree's AUM. DoubleLine is approaching $100 billion in AUM.

Marks and Gundlach both joined TCW three decades ago. Marks left in the mid-90s and co-founded Oaktree. When Gundlach and TCW infamously parted ways at the end of 2009, Gundlach created DoubleLine and Oaktree invested in the startup. Oaktree holds a 20-percent stake in DoubleLine.

"We have a very happy cooperation. It has made all of us better," Marks said when introducing Gundlach at the 21st annual Sohn Investment Conference at Lincoln Center in New York City. "It doesn't hurt that that $20-million investment back in '09 is now valued by the analysts at about $1B."

"Investing in DoubleLine and Jeff was the best idea that I ever had," Marks added.

Oh, and when Gundlach himself took the stage moments later, the speakers played the opening bars to the Guns N Roses classic "Sweet Child O Mine". 

Edited by: Neil Anderson, Managing Editor


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

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use