TCW Looking to Raise $3B Distressed Debt Fund

TCW has added its name to the list of firms looking to take advantage of recent dislocations in the credit markets. It seeks to raise up to $3 billion to seek out distressed debt opportunities, according to LBO Wire. Areas in which TCW Credit Opportunities Fund will invest include bank loans, collateralized debt obligations and various mortgage-backed securities, said one potential limited partner. www.tcw.com