MutualFundWire.com: Gundlach Dives Into Equities With Two from TCW
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Wednesday, January 02, 2013|
Gundlach Dives Into Equities With Two from TCW
DoubleLine's Jeffrey Gundlach is starting off the New Year with a bang.
In an aggressive push into equity territory, his firm has hired former TCW equity PMs Husam Nazer and Brendt Stallings for the newly-launched affiliate DoubleLine Equity.
Last month, DoubleLine had announced the launching off its sixth mutual fund.
TCW was quick to respond. It
had announced in November that Mike Olson and Chang Lee were named as replacements for Nazer and Stallings.
Company Press Release
Equity Portfolio Managers Husam Nazer and Brendt Stallings Join DoubleLine
DoubleLine Capital LP launches DoubleLine Equity LP
LOS ANGELES, January 2, 2013 – DoubleLine Capital LP is pleased to
welcome Brendt Stallings and Husam Nazer as the firm expands its product line-up into
equity investment strategies. Stallings and Nazer join as portfolio managers and
partners in DoubleLine Equity LP, a newly created affiliate of DoubleLine.
Stallings and Nazer were previously Group Managing Directors at TCW, the highest title
for investment managers at the firm. There they managed $5 billion invested in common
stocks in several successful strategies, which were both broadly invested and sector focused.
DoubleLine CEO Jeffrey Gundlach, who previously served as Chief Investment Officer
of TCW and headed that firm’s largest investment group, launched DoubleLine in
December 2009 with more than 40 of his former colleagues. Today DoubleLine employs
more than 80 people, is majority-owned by its employees and manages more than $53
billion in asset allocation, bond and now stock strategies.
“In my 24 years at TCW,” Gundlach said, “I knew well the firm’s many equity groups and
styles; Brendt and Husam stood out as the most talented and versatile of those
investment teams. During several years of the most treacherous markets in
generations, working with me as Chief Investment Officer, they delivered returns of over
40% against a flat result for the S&P 500. Importantly, their investment philosophy and
process are consistent with and complement those already in place at DoubleLine. I will
continue to explore other complementary partnerships and acquisitions to diversify our
business and serve our clients.”
DoubleLine Equity is managing portfolios seeded by a DoubleLine affiliate as well as by
Stallings and Nazer. The two portfolio managers expect to hire at least five investment
professionals this year.
“Husam and I are enthusiastic about teaming up with DoubleLine to launch DoubleLine
Equity,” Stallings said. “We know the DoubleLine team well, having worked with Jeffrey
and many of his team for 13 years. With its entrepreneurial culture, employee ownership
and investment acumen, we can think of no better partner than DoubleLine.”
Nazer said he and Stallings “will immediately begin building out the dedicated research
team that our strategies demand.”
“The timing could not be better to launch a new equity investment platform,” Nazer
continued. “Equities have been disfavored relative to other asset classes for many
years. It is for exactly this reason we and DoubleLine believe this is an opportune
moment to launch DoubleLine Equity.”
Brendt Stallings, 44, is an equities portfolio manager and partner in DoubleLine Equity
LP. Previously at TCW, Stallings was a Group Managing Director, Senior Portfolio
Manager of the TCW Growth Equities Strategy, co-portfolio manager of the TCW Global
Technology Strategy and co-head of the TCW Small- and Mid-Cap Growth Equities
team. He received a BA in Decision Analysis and Political Science from Stanford
University and an MBA from the Amos Tuck School at Dartmouth College. He is a CFA
Husam Nazer, 41, is an equities portfolio manager and partner in DoubleLine Equity LP.
Previously at TCW, Nazer was a Group Managing Director, Senior Portfolio Manager of
the Small-Cap Growth and SMID-Cap Growth strategies, co-portfolio manager of the
TCW Global Technology Strategy and co-head of the TCW Small- and Mid-Cap Growth
Equities team. Nazer received a BS in Biomedical Engineering from Boston University
and an MBA at the University of Southern California.
About DoubleLine Capital LP
DoubleLine Capital LP is a registered investment adviser under the Investment Advisers
Act of 1940. DoubleLine manages more than $53 billion in assets held in closed- and
open-end 1940 Act funds, separate accounts and hedge funds in the United States and
UCITS in Europe. DoubleLine’s headquarters is in Los Angeles, CA. Its offices can be
reached by telephone at (213) 633-8200 or by e-mail at email@example.com. Media
can reach DoubleLine by e-mail at firstname.lastname@example.org.
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