Friday, 28 August 2015
Last updated 6 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…