TCW Group Inc. clients pulled about $25 billion after the Dec. 4 firing of Jeffrey Gundlach as investment chief, almost a fourth of its assets and more than double the amount since year-end.
TCW today completed the acquisition of fixed-income manager Metropolitan West Asset Management LLC, the Los Angeles-based firm said today in a statement. The deal, announced at the same time of Gundlach’s dismissal, added about $30 billion, bringing net assets to $115 billion from $110 billion before the shakeup.
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