Reuters - TCW Group Buys Special Situations Funds Group

TCW Group Inc. said it is buying a special situations funds group that would allow it to enter the direct lending business for middle market clients, ahead of its own sale to private equity firm The Carlyle Group, Reuters reported. TCW, a Los Angeles-based investment firm with $135 billion of assets under management (AUM), said on Monday it is acquiring the $2 billion AUM direct lending funds of Regiment Capital Advisors LP, a Boston, Massachusetts-based investment manager. Terms of the deal between TCW and Regiment, which is expected to close by the end of the year, were not disclosed.

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