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TCW Group

The TCW Group, Inc. (TCW), formerly Trust Company of the West, is an American asset management firm. Headquartered in Los Angeles, California, the company operates worldwide, offering a range of investment products, including fixed income, equities, asset management and advisory services. The President and CEO of The TCW Group is Katie Koch.[2]

History

Founded by Robert Addison Day in 1971[3] and headquartered in Los Angeles; TCW manages a broad range of investment products.[4] Originally known as Trust Company of the West; TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as foreign investors and high-net-worth individuals.[5]

In 2001, Société Générale (SocGen) acquired a controlling interest in The TCW Group.[6][7]

In December 2009, TCW fired its top fund manager, Jeffrey Gundlach, who had offered to buy a majority stake in the firm for about $350 million, (less than 50% of the amount paid by SocGen for its controlling interest in 2001). Gundlach established DoubleLine Capital the same month, and was later awarded $66.7 million in TCW earnings by a jury in September 2011.[8]

On February 24, 2010, TCW announced the completion of its acquisition of smaller rival Metropolitan West Asset Management LLC (MetWest) investment management firm.[9][10]

In February 2013, TCW management and alternative asset manager The Carlyle Group acquired TCW Group from Société Générale.[11] As a result of the transaction, TCW management and employees increased their ownership in the firm to approximately 40% on a fully diluted basis, better aligning interests with clients. Equity for the investment came from two Carlyle investment funds and from TCW management.[12]

In December 2017, Nippon Life Insurance Company purchased a 25% minority stake in TCW from The Carlyle Group. As a result of the purchase, ownership by TCW management and employees increased to 44%, while Carlyle maintains a 31% interest in the firm.[13]

External links

References

  1. Brian Moriarty. TCW - Asset Management Company Morningstar, Inc., 2025-09-12, retrieved 2026-01-24^
  2. TCW Group Inc/The - Company Profile and News Bloomberg.com, retrieved 2026-01-24^
  3. Justin Baer. Carlyle Paring Its Stake In Bond Manager TCW Group Wall Street Journal, 2017-12-01, retrieved 2019-03-14^
  4. #283 Robert Addison Day Forbes, retrieved September 17, 2015^
  5. The TCW Group, Inc.: Our Firm^
  6. Societe Generale Confirms It Will Acquire 70% of TCW The Wall Street Journal, April 2001^
  7. French bank takes a stake in trust company The New York Times, April 2001^
  8. Mary Slosson. Jury awards Gundlach $66.7 million in TCW battle U.S., retrieved 2026-01-24^
  9. The TCW Group, Inc.: Press Release: TCW Completes MetWest Acquisition TCW, February 2010^
  10. Aaron Pressman. SPECIAL REPORT:Divorce American style for French bank, bond star Reuters, 2010-01-19, retrieved 2026-01-24^
  11. Karin Anderson. How Is TCW Doing? Morningstar, Inc., May 19, 2015^
  12. The Carlyle Group and TCW Management Complete TCW Acquisition Yahoo News, 2013-02-06, retrieved 2026-01-24^
  13. Eli Horowitz. Nippon Life Insurance Company Acquires Minority Stake in TCW Los Angeles Business Journal, 2017-12-28, retrieved 2026-01-24^