How Much Did TCW Pay For MetWest?
   The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Tuesday, September 06, 2011

How Much Did TCW Pay For MetWest?

Thanks to the courtroom battle between TCW and its ex-chief investment officer, DoubleLine chief Jeff Gundlach, the $300 million price tag ($180 million in cash and the rest in stock) for MetWest (which had $30 billion in assets at the time) has come to light.

Pensions & Investments' Randy Diamond reports that, in October 2009, Citigroup's Gary Shedlin wrote an e-mail to Societe Generale global investment management and services chief Jacques Ripoll, saying that MetWest was worth "closer to $200 million" and not "the $300 million nominal value they are asking for."

TCW CEO Marc Stern told P&I that "it was a fair deal and in retrospect it has turned out to be a great deal."

Printed from:

Copyright 2011, InvestmentWires, Inc.
All Rights Reserved
Back to Top