DoubleLine snags TCW team for new equity division

Brendt Stallings and Husam Nazer, both former senior portfolio managers at TCW Group, were named partners and portfolio managers in DoubleLine Capital's newly launched equity division, DoubleLine Equity, the money manager announced Wednesday.

The move is a departure for the fixed-income shop.

In November, TCW said Messrs. Stallings and Nazer were leaving at the end of the year and promoted Mike Olson and Chang Lee as replacements.

Messrs. Stallings and Nazer ran about $1.9 billion in small-cap and smidcap growth equities at TCW.

DoubleLine was created in 2010 by Jeffrey Gundlach after his December 2009 termination from TCW, a move that led to a public dispute between the two firms.