completed a deal today, bringing Regiment Capital's
Special Situation Fund's group under the firm's umbrella.
The Los Angeles, California-based firm will add around $2 billion in AUM with the purchase of the SSF.
This deal was originally announced early last month
The division is based in New York and Boston, and is headed up by Rick Miller
. He reports to Jess Ravich
, TCW's group managing director and head of alternative products.
Terms of the deal were not disclosed.
For more details and comments from Ravich and Miller, read the company news release below.
Company Press Release
TCW Completes Acquisition of Special Situations Funds from Regiment Capital
--Key Step in Expanding TCW’s Alternatives Platform
--Rick Miller Named TCW Group Managing Director
--Special Situations Funds Have Successful 12-Year Track Record
LOS ANGELES – January 2, 2013 –The TCW Group (TCW), an international asset-management firm, today
announced the completion of its acquisition of the Special Situations Funds group (SSF) from Regiment Capital
Advisors L.P. Terms of the transaction were not disclosed.
Launched in 2000, the Special Situation Funds group is a lending business that targets middle-market
companies and places a strong emphasis on risk management. SSF has approximately $2.0 billion in assets
and commitments under management and is overseen by Rick Miller along with six Boston- and New York-
based veteran investment professionals, all of whom have joined TCW and continue to manage the funds. The
SSF group reports to Jess Ravich, TCW Group Managing Director and Head of Alternative Products.
David Lippman, TCW President and CEO, said, "This acquisition plays an important role in our continued
commitment to grow and develop TCW’s alternatives platform and capabilities. However, this acquisition
represents more than just a strategic fit. The SSF team shares TCW’s core beliefs in strict investment discipline,
dedication to intensive research and rigorous adherence to risk management. For these reasons we expect the
integration process to be seamless."
Jess Ravich, TCW Group Managing Director and Head of Alternative Products, said, "Rick Miller and his team
come to TCW with an outstanding 12-year track record of delivering attractive risk-adjusted returns to their
investors, and we look forward to introducing this proven strategy to TCW clients."
Rick Miller, Group Managing Director at TCW, said, "We are very excited to join forces with TCW and to become
part of an institution that is known world-wide for its dedication to investment excellence and client service.
We are especially proud of the confidence our current investors have shown in our team, and look forward to
continuing to deliver outstanding returns and client service to them."
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