DoubleLine Mutual Fund Crests $1B

Nov 8 2011 | 10:24am ET

The litigation and mudslinging surrounding asset manager DoubleLine Capital hasn’t kept investors away.

The firm, whose first fund raised $1 billion within three months of its launch last year, now boasts another $1 billion vehicle. A mutual fund launched by the Los Angeles-based firm last June now manages $1 billion, DoubleLine said.

All told, the firm now has some $19 billion in assets under management.

DoubleLine was set up by former TCW Group chief investment officer Jeffrey Gundlach after he was fired by that firm. The two sides have since squared off in court, with Gundlach winning $66.7 million in unpaid wages and TCW winning a ruling that Gundlach had stolen its proprietary information.

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