The equities team headed by Craig Blum signed a new five-year contract with TCW [profile], according to a Pensions and Investments report.

Reporter Randy Diamond writes that the Concentrated Core equity strategist agreed to sign anew for an increase in Blum's equity stake, as well as him getting 'smaller up-front cash compensation."

Negotiations with the three other equity teams are still ongoing.

Diamond then turns his attention to TCW rival DoubleLine [profile].

DoublineLine founder and former TCW standout Jeffrey Gundlach has announced his plan to venture into equities, which fueled talks that he was eyeing to recruit a team from his former firm.

Gundlach said during a webcast that DoubleLine is "looking at a couple of equity teams to bring on board to diversify and to offer other funds ultimately as we move forward," according to the article. 

Edited by: HFD


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