Carlyle Closes TCW Buy

The Carlyle Group has completed its acquisition of the TCW Group. Financial terms were not announced. TCW management and employees will own about 40% of the company on a fully diluted basis. Carlyle’s investment in TCW comes from the firm’s Global Financial Services Buyouts fund, a $1.1 billion pool, and Carlyle Partners V, a U.S. buyout fund raised $13. 7 billion in 2007.

TCW Sues Former Star Manager Gundlach

BOSTON (Reuters) – Trust Company of the West sued its former chief investment officer, Jeffrey Gundlach, accusing him of stealing confidential data, lying to potential clients and keeping drugs and pornographic materials in his office. TCW, the U.S. asset management unit of French bank Societe Generale (SOGN.PA), said in its lawsuit filed on Thursday that […]

TCW Cans Chief Investment Officer

NEW YORK (Reuters) – TCW Group Inc, one of the largest money managers in the world, fired its chief investment officer, Jeffrey Gundlach, and removed him from its board of directors after buying a smaller rival last week. Los Angeles-based TCW said Gundlach was “relieved of his duties” and replaced as head of TCW’s high-grade […]

How TCW Met Magic Johnson, Formed “Capital Assist”

At yesterday’s Buyouts West conference, Deborah Gage interviewed Mark L. Attanasio, managing director at TCW. As Dan noted in this morning’s peHUB Wire, the Milwaukee Brewers owner said he wouldn’t trade Prince Fielder.

More closely related private equity, he discussed the formation of TCW’s new joint venture with Magic Johnson. How does a mid-market mezzanine lender get hooked up with a former L.A. Lakers great? This is how:

“I went over to Ron Burkle’s place to visit the Stanley cup. Ron owns the (Pittsburgh) Penguins, and they won the Stanley Cup, and I though maybe some of that good karma would wear off on the Brewers. It didn’t. What did wear off was Eric Holoman, the President of Magic Johnson Enterprises and Magic’s business partner. We recognized that, greater than anything we might do in terms of financing MJE’s companies would be to figure out what to do about the lending gap created by the fall of companies like CIT and American Capital. We have an underserved market in middle market finance.”

TCW Buying UK Wind Farm Stakes from Centrica

LONDON(Reuters) – British Gas owner Centrica Plc (CNA.L) said on Wednesday it will sell a 50 percent equity stake in three wind farms to the US-based investment management company TCW for 84 million pounds in cash ($138 million). Centrica is selling the stake in its Lynn, Inner Dowsing and Glens of Foudland wind farms and […]

TCW: We Have Not Met with Buyout Firms

NEW YORK (Reuters) – TCW Group Inc Chief Investment Officer Jeffrey Gundlach told Reuters on Tuesday that no private equity firm has spoken with him about acquiring the money management giant from its parent, France’s Societe Generale (SOGN.PA). The New York Post reported that Kohlberg Kravis Roberts is among a number of private-equity firms engaged […]

TCW Buys Certain SandRidge Energy Assets

SandRidge Energy Inc. (NYSE: SD) has sold its gathering and compression assets in Piñon Field, located in Texas’ Pecos and Terrell counties, to TCW Asset Management for $200 million. PRESS RELEASE Oklahoma City, Oklahoma, June 30, 2009 – SandRidge Energy, Inc. (NYSE:SD) today announced the closing of the two previously announced transactions. Total proceeds of […]

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