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Gundlach's DoubleLine Funds See 6th Straight Month Of Inflows
FYI: - Jeffrey Gundlach's DoubleLine Funds had net inflows of $603 million in July, with its flagship DoubleLine Total Return Bond Fund attracting net inflows of $375 million. Regards, Ted http://www.reuters.com/assets/print?aid=USL2N0Q727Z20140801
Mr. Gundlach and a friend of mine both formerly lived in the same Buffalo neighborhood. I wish he (Mr Gundlach) would buy the Bills franchise. He'd probably do a much better job than the current bidders.
Any buyer BUT Bonjovi and the other damn foreigners in his Toronto contingent would be okay with me.
Can't be 100% certain, but it is reported only 3 potential buyers made bids strong enough to make it to the second round of negotiations, Trump (the Donald), Pegula (current Buffalo Sabers owner) and the pop-star. Gundlach apparently did not bid.
Alas, everyone in Western NY always had the hope that Mr. Buffalo Bill, Jim Kelly, would pull together a group of buyers, but his battle with cancer does not allow for that now.
Go Bills!! The only NFL team that actually plays in New York.
Oaktree (OAK) owns a pretty decent % of Doubleline.
Oaktree loaned JG some administrative employees to help get DoubleLine off the ground, enabling DL to go from nothing to a fully functioning investment group in a matter of a few months, explained here on the Oaktree web site - guess it isn't quite clear from the text whether the startup assistance was part of the ownership deal, or if OT acquired its stake afterwards.
"We opportunistically acquired a strategic equity stake in DoubleLine Capital LP, an independent asset manager to which we provided start-up assistance in 2009. This investment in DoubleLine represents Oaktree’s most significant equity investment in an external manager and was undertaken in recognition of our shared investment philosophy that emphasizes risk control, as well as the extraordinary performance record built by the professionals of DoubleLine while at Trust Company of the West."
Orchard Park. Been through there so many times... You can see RW Stadium driving South on 219 toward Springville and Ellicottville, the ski town. http://en.wikipedia.org/wiki/Orchard_Park,_NY
Last time I looked (I think earlier this year), OAK's original investment in DoubleLine was still solid (about 20% ownership) and providing a visible part of their total revenue stream.
Comments
Can't be 100% certain, but it is reported only 3 potential buyers made bids strong enough to make it to the second round of negotiations, Trump (the Donald), Pegula (current Buffalo Sabers owner) and the pop-star. Gundlach apparently did not bid.
Alas, everyone in Western NY always had the hope that Mr. Buffalo Bill, Jim Kelly, would pull together a group of buyers, but his battle with cancer does not allow for that now.
Go Bills!! The only NFL team that actually plays in New York.
"We opportunistically acquired a strategic equity stake in DoubleLine Capital LP, an independent asset manager to which we provided start-up assistance in 2009. This investment in DoubleLine represents Oaktree’s most significant equity investment in an external manager and was undertaken in recognition of our shared investment philosophy that emphasizes risk control, as well as the extraordinary performance record built by the professionals of DoubleLine while at Trust Company of the West."
http://en.wikipedia.org/wiki/Orchard_Park,_NY