Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:TCW Bows Out of a Treasury Program Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 05, 2010

TCW Bows Out of a Treasury Program

Reported by Armie Margaret Lee

TCW executives said Monday that they are withdrawing the UST/TCW Senior Mortgage Securities Fund, L.P. from the Treasury Department's Legacy Securities Public-Private Investment Program. Los Angeles-based TCW will liquidate the $550 million fund, which completed its initial closing last September 30.

Word of the planned liquidation came a month after reports surfaced that the Treasury has suspended the fund due to TCW CIO Jeff Gundlach's exit. His departure has triggered a key-man clause, resulting in the freeze.

Explaining the company's decision to withdraw from participation, TCW CEO Marc Stern stated Monday said the move was appropriate "given that we are at a very early stage of investment in this particular product, and in light of the recent changes in the portfolio management team."

"This will also benefit the holders of older TCW vintage funds, as we will be able to dedicate even more resources to those investments," he added. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use