Jeffrey Gundlach, during a conference call Tuesday with investors and consultants, said he and key members of the mortgage-backed securities team he led for more than two decades at TCW Asset Management are aiming to be ready to serve investors again within 30 to 45 days.
One participant on the call, who declined to be named, said that when asked whether he would set up a new firm or join an existing one, Mr. Gundlach suggested he might pursue a combination.
Reached by telephone following the conference call, Mr. Gundlach said one option would be a temporary joint venture with a “very established firm,” capable of providing the back-office services and other infrastructure required by investors, as a “stepping stone” to setting up an independent firm. In return, that established firm would be able to invest in Mr. Gundlach's new firm, one that has “success written all over it,” he said.
While no final decisions have been made, after 24 years at TCW, Mr. Gundlach said the idea of running an independent firm has great appeal.