Announcement Regarding TCW Strategic Income Fund
(firmenpresse) - LOS ANGELES, CA -- (Marketwire) -- 08/16/12 -- The TCW Group, Inc. ("TCW") announced that Société Générale Holdings de Participations, S.A. ("SocGen") has signed a definitive agreement to sell a majority ownership in TCW to affiliates of The Carlyle Group, L.P. ("Carlyle"), a global alternative asset manager. As a result of the transaction, TCW management will indirectly increase its ownership in the firm to up to approximately 40% on a fully diluted basis. The transaction is subject to certain approvals and other conditions to closing and is currently expected to close in the first quarter of 2013.
TCW Investment Management Company ("TIMCO"), a wholly-owned subsidiary of TCW, acts as the investment advisor to the TCW Strategic Income Fund, Inc. (NYSE: TSI). Under the Investment Company Act of 1940, TIMCO's continued service as the investment adviser to TSI after the transaction has closed will be subject to the approval of a new investment advisory agreement by TSI's Board of Directors and the shareholders of TSI. TCW management expects that, subject to obtaining the foregoing consents, TIMCO will continue to act as investment advisor to TSI, with no break in the continuity of TCW's involvement in TSI. Please watch for shareholder proxy materials, which are expected to be available later this year.
The TCW Strategic Income Fund is a closed-end fund listed on the New York Stock Exchange. TSI began operations in March 1987 and has net assets of approximately $264 million.
Founded in 1971, The TCW Group, Inc. develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients' wealth. The firm has approximately $130 billion in assets under management. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. For more information, please refer to .
Myles Bozinovski
Vice President, TCW Advisor Group
(213) 244-0959
Peter Viles
Managing Director, Corporate Communications
(213) 244-0509
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Datum: 16.08.2012 - 20:46 Uhr
Sprache: Deutsch
News-ID 175413
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LOS ANGELES, CA
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Personal Finance
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