Gundlach Nets $1 Billion For First Hedge Fund

Jun 28 2010 | 7:21am ET

Hedge fund DoubleLine Capital, founded by former TCW Group chief investment officer Jeffrey Gundlach, has raised more than $1 billion for its maiden fund less than three months after its launch.

Gundlach serves as co-manager of the Total Return Bond Fund, which invests primarily in mortgage-backed securities. The fund debuted on April 6.

“The raising of more than $1 billion in the DoubleLine Total Return Bond Fund within its first quarter of operations marks a significant milestone,” Ron Redell, president of the DoubleLine Funds Trust, said.

Gundlach founded Los Angeles-based DoubeLine after leaving TCW last year. TCW has accused Gundlach and DoubleLine of breach of contract and fiduciary duty, unfair competition and conspiracy. The firm also claims that, after it fired Gundlach, it found marijuana, drug paraphernalia and a variety of “hardcore” pornography and “sexual devices” in his office. Gundlach has since countersued.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...