right hand may soon be riding off into the sunset.
| Philip A. Barach|
, co-founder and president of Los Angeles-based DoubleLine Capital
] and co-PM of its flagship DoubleLine Total Return Bond Fund
, will retire at the end of April next year, Reuters reports
. The wire service cites a letter Gundlach sent to clients, a letter celebrating the fixed income-focused asset management firm's 10th anniversary.
Barach co-PMs the fund alongside Gundlach, DoubleLine's chief and founder, and Andrew Hsu
, head of asset-backed securities and infrastructure investments.
Gundlach and Barach launched
DoubleLine in December 2009 after leaving
TCW. Since then, the employee-owned firm has grown to $147 billion in AUM, as of September 30, 2019, and 255 employees (including 150 investment professionals).
An alumnus of the Hebrew University of Jerusalem, spent more than 23 years at TCW, where he co-founded the mortgage group. Earlier on, he worked with Sun Life and CalPERS.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now