Jeffrey Gundlach, chief investment officer of
TCW Group, was quoted by
Reuters on Tuesday afternoon as saying that he has not met with any private
equity firm regarding the possibility of purchasing the Los Angeles asset manager.
"No private equity firm has spoken to me with definitive interest and it is very unlikely to me that any buyer advancing beyond a preliminary stage would do so
without talking to me, since I manage 70 percent of assets," Gundlach told Reuters.
Gundlach's comments comes in the wake of a report in the
New York Post Tuesday morning that a number of private equity firms, including
Kohlberg Kravis Roberts,
have held talks with TCW Group's French parent with an eye toward a buyout of the asset manager.
The Post cited unnamed sources.
The paper also quoted interim TCW CEO
Marc Stern as saying private equity firms could take part in a recapitalization of TCW. Stern denied that Societe Generale would entertain the idea
of an outright sale of TCW.
"Whether private equity could be involved is something that could be considered," he said.
SocGen purchsed a majority stake in TCW in 2001. In January, the French bank announced that it was
looking into a sale or recapitalization of the firm.
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