Deja vu at money manager TCW: Another ugly divorce
The nasty breakup between big L.A. money manager TCW Group and its now-ex chief investment officer, Jeffrey Gundlach, is bringing back memories of another highly publicized TCW divorce: the one that led to the creation of Oaktree Capital Management by five TCW fund managers in 1995.
And as with the TCW/Oaktree split, Gundlach's sudden departure from the firm leaves long-time TCW clients -- including its bond mutual fund investors -- forced to choose sides. Should they stay with TCW or follow Gundlach, assuming he launches his own firm or lands at an established rival asset manager?
Read the latest on TCW's decision to fire Gundlach, and his response, in this story.
-- Tom Petruno