Hedge fund firm DoubleLine Capital is expanding its newly-created subsidiary through the hires of two portfolio managers.
The Los Angeles-based firm announced Wednesday that Brendt Stallings and Husam Nazer have joined DoubleLine Equity, a division which manages stock portfolios.
DoubleLine founder Jeffrey Gundlach explained that he hired Stallings and Nazer, who were previously group managing directors at investment firm TCW, because they “stood out as the most talented and versatile,” while their “investment philosophy and process are consistent with and complement those already in place at DoubleLine.”
Stallings and Nazer will hire at least five investment professionals to the new unit this year.
Launched in 2009, DoubleLine manages about $53 billion in assets.