LOS ANGELES, CA--(Marketwire - Jan 2, 2013) - The TCW Group (TCW), an international asset-management firm, today announced the completion of its acquisition of the Special Situations Funds group (SSF) from Regiment Capital Advisors L.P. Terms of the transaction were not disclosed.
Launched in 2000, the Special Situation Funds group is a lending business that targets middle-market companies and places a strong emphasis on risk management. SSF has approximately $2.0 billion in assets and commitments under management and is overseen by Rick Miller along with six Boston- and New York-based veteran investment professionals, all of whom have joined TCW and continue to manage the funds. The SSF group reports to Jess Ravich, TCW Group Managing Director and Head of Alternative Products.
David Lippman, TCW President and CEO, said, "This acquisition plays an important role in our continued commitment to grow and develop TCW's alternatives platform and capabilities. However, this acquisition represents more than just a strategic fit. The SSF team shares TCW's core beliefs in strict investment discipline, dedication to intensive research and rigorous adherence to risk management. For these reasons we expect the integration process to be seamless."
Jess Ravich, TCW Group Managing Director and Head of Alternative Products, said, "Rick Miller and his team come to TCW with an outstanding 12-year track record of delivering attractive risk-adjusted returns to their investors, and we look forward to introducing this proven strategy to TCW clients."
Rick Miller, Group Managing Director at TCW, said, "We are very excited to join forces with TCW and to become part of an institution that is known world-wide for its dedication to investment excellence and client service. We are especially proud of the confidence our current investors have shown in our team, and look forward to continuing to deliver outstanding returns and client service to them."
Founded in 1971, The TCW Group, Inc. develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients' wealth. The firm has approximately $135 billion in assets under management, including $48 billion in mutual funds under the MetWest and TCW Fund families. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. For more information, please refer to www.tcw.com.