TCW Group

TCW Group is an asset management firm based in Los Angeles, California.

This article is about the investment management firm. For other uses, see TCW (disambiguation).
TCW Group
TypePrivate
IndustryInvestment management
Founded1971
HeadquartersTCW Tower
Los Angeles, California, United States
ProductsFixed Income, Equity, and International Mutual Funds, Strategies, and Alternative Investments
AUM$248 billion as of 31 December 2020
OwnerCompany management, Carlyle Group and Nippon Life Insurance Company
Websitewww.tcw.com

History

Founded by Robert Addison Day in 1971[1] and headquartered in Los Angeles, TCW manages a broad range of investment products.[2] The TCW Group was 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.[3]

In 2001, Société Générale (SocGen) acquired a controlling interest in The TCW Group.[4][5]

On February 24, 2010, TCW announced the completion of its acquisition of Metropolitan West Asset Management LLC (MetWest), a leading fixed income investment management firm.[6]

In February 2013, TCW management and alternative asset manager The Carlyle Group acquired TCW Group from Société Générale.[7] 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.

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.

As of December 31, 2020, TCW had $248 billion of assets under management or committed to management.[8] The CEO of The TCW Group is David Lippman.[9]

References
  1. Baer, Justin (2017-12-01). "Carlyle Paring Its Stake In Bond Manager TCW Group". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-03-14.
  2. "#283 Robert Addison Day". Forbes. Retrieved September 17, 2015.
  3. The TCW Group, Inc.: About Us
  4. "Societe Generale Confirms It Will Acquire 70% of TCW". The Wall Street Journal. April 2001.
  5. "French bank takes a stake in trust company". The New York Times. April 2001.
  6. "The TCW Group, Inc.: Press Release: TCW Completes MetWest Acquisition". TCW. February 2010.
  7. Karin Anderson (May 19, 2015). "How Is TCW Doing?". Morningstar, Inc.
  8. The TCW Group Inc.: Assets under management
  9. "TCW.com – David Lippman". www.tcw.com. Retrieved 2016-07-14.
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