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

Electronifie: Better Bond Trading

May 11 2016 | 3:03pm ET

Technology has revolutionized countless aspects of investing and trading, but the...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...