DoubleLine Assets Crest $50 Billion

Nov 19 2012 | 10:21am ET

DoubleLine Capital has more than doubled its assets under management over the past year and will enter its fourth year in operation with more than $50 billion in assets.

The Los Angeles-based money manager, which runs hedge funds, mutual funds and separately-managed accounts, recently crested the "major milestone," it said last week. The firm, founded in December 2009 by former TCW Group chief investment officer Jeffrey Gundlach, managed $19 billion a year ago.

Gundlach thanked DoubleLine's "many valued investors" for their "tremendous support."

DoubleLine's phenomenal growth comes in spite of an ugly legal battle with TCW that marred the firm's first two years. TCW fired Gundlach in 2009, accusing him and others at DoubleLine of conspiring to steal its trade secrets and clients. For good measure, it added that a search of Gundlach's offices following his termination uncovered "hardcore" pornography and drug paraphernalia. Gundlach, who set up DoubleLine just 10 days after his firing with backing from his fellow TCW veterans at Oaktree Capital Management, shot back with a lawsuit, for unpaid wages of his own, which he won following the six-week trial.

But a jury also found that Gundlach has misappropriated TCW's trade secrets, although it declined to award the firm any damages. The two sides reached a confidential settlement late last year.


In Depth

Q&A: Pantheon’s McCrary Says Private Equity Market ‘Robust’

Dec 17 2014 | 8:32am ET

Dennis McCrary is a partner at Pantheon, a private equity firm with $32.2 billion...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.