Jeffrey Gundlach is the founder of DoubleLine Capital, a fixed income fund headquartered in Los Angeles with over $109 billion of AUM as of June 30, 2017.
Jeffrey Gundlach started out his career with a stint at Transamerica and became an investment manager for TCW Inc. He was the head of the $9.3 billion TCW Total Return Bond Fund where he finished in the top 2% of all funds invested in intermediate-term bonds for the 10 years prior to his departure. Morningstar had nominated him Fixed Income Manager of the decade. In December 2009, he was terminated by TCW for “alleged gross misconduct, including an attempt to steal staff and confidential client and trade information to launch his own rival firm.” All 15 of his loyal senior staff resigned from TCW and five days after Gundlach was fired, DoubleLine Capital was launched (eventually, 45 former TCW employees joined the firm). The week after Jeffrey Gundlach was terminated, $30 billion of assets left TCW. At the time of the fund’s launch, Howard Marks of Oaktree Capital took a one-fifth stake in DoubleLine ($20 million investment) which value has increased to around $900 million or more than 4,000% appreciation by 2016.
Jeffrey Gundlach was born in 1959 in Amherst, New York and his father was a chemist for a bowling alley. He graduated summa cum laude in math and philosophy in 1981 from Dartmouth College. He attended Yale University for a Ph.D. in theoretical mathematics before dropping out after two years to join LA’s rock scene. His band recruited a bassist, Nancy Draper, who became his wife.
According to Forbes, as of October 2017, his net worth was $1.86 billion. His marriage with Nancy Draper, a bassist in his former band, “The Greens,” ended in 2010 with a divorce after being married for more than 20 years. In 2012, Jeffrey Gundlach’s home in Santa Monica was burglarized when his cherished landscape by William Wendt (valued at $10 million) and his Porsche Carrera 4S were stolen. Police recovered his missing art and arrested two suspects after Gundlach offered a record-breaking $1.7 million reward for information leading to the return of the art. Jeffrey Gundlach donated $42.5 million to Albright-Knox Art Gallery in Buffalo, New York.
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