Company Press Release

Equity Portfolio Managers Husam Nazer and Brendt Stallings Join DoubleLine

DoubleLine Capital LP launches DoubleLine Equity LP

LOS ANGELES, January 2, 2013 – DoubleLine Capital LP is pleased to welcome Brendt Stallings and Husam Nazer as the firm expands its product line-up into equity investment strategies. Stallings and Nazer join as portfolio managers and partners in DoubleLine Equity LP, a newly created affiliate of DoubleLine. Stallings and Nazer were previously Group Managing Directors at TCW, the highest title for investment managers at the firm. There they managed $5 billion invested in common stocks in several successful strategies, which were both broadly invested and sector focused.

DoubleLine CEO Jeffrey Gundlach, who previously served as Chief Investment Officer of TCW and headed that firm’s largest investment group, launched DoubleLine in December 2009 with more than 40 of his former colleagues. Today DoubleLine employs more than 80 people, is majority-owned by its employees and manages more than $53 billion in asset allocation, bond and now stock strategies.

“In my 24 years at TCW,” Gundlach said, “I knew well the firm’s many equity groups and styles; Brendt and Husam stood out as the most talented and versatile of those investment teams. During several years of the most treacherous markets in generations, working with me as Chief Investment Officer, they delivered returns of over 40% against a flat result for the S&P 500. Importantly, their investment philosophy and process are consistent with and complement those already in place at DoubleLine. I will continue to explore other complementary partnerships and acquisitions to diversify our business and serve our clients.”

DoubleLine Equity is managing portfolios seeded by a DoubleLine affiliate as well as by Stallings and Nazer. The two portfolio managers expect to hire at least five investment professionals this year.

“Husam and I are enthusiastic about teaming up with DoubleLine to launch DoubleLine Equity,” Stallings said. “We know the DoubleLine team well, having worked with Jeffrey and many of his team for 13 years. With its entrepreneurial culture, employee ownership and investment acumen, we can think of no better partner than DoubleLine.” Nazer said he and Stallings “will immediately begin building out the dedicated research team that our strategies demand.”

“The timing could not be better to launch a new equity investment platform,” Nazer continued. “Equities have been disfavored relative to other asset classes for many years. It is for exactly this reason we and DoubleLine believe this is an opportune moment to launch DoubleLine Equity.”

Brendt Stallings, 44, is an equities portfolio manager and partner in DoubleLine Equity LP. Previously at TCW, Stallings was a Group Managing Director, Senior Portfolio Manager of the TCW Growth Equities Strategy, co-portfolio manager of the TCW Global Technology Strategy and co-head of the TCW Small- and Mid-Cap Growth Equities team. He received a BA in Decision Analysis and Political Science from Stanford University and an MBA from the Amos Tuck School at Dartmouth College. He is a CFA charter holder.

Husam Nazer, 41, is an equities portfolio manager and partner in DoubleLine Equity LP. Previously at TCW, Nazer was a Group Managing Director, Senior Portfolio Manager of the Small-Cap Growth and SMID-Cap Growth strategies, co-portfolio manager of the TCW Global Technology Strategy and co-head of the TCW Small- and Mid-Cap Growth Equities team. Nazer received a BS in Biomedical Engineering from Boston University and an MBA at the University of Southern California.

About DoubleLine Capital LP

DoubleLine Capital LP is a registered investment adviser under the Investment Advisers Act of 1940. DoubleLine manages more than $53 billion in assets held in closed- and open-end 1940 Act funds, separate accounts and hedge funds in the United States and UCITS in Europe. DoubleLine’s headquarters is in Los Angeles, CA. Its offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com. Media can reach DoubleLine by e-mail at media@doubleline.com.