Jeffrey Gundlach Rips TCW Group Over Red Lobster ‘PIK Magic’
The famed bond investor criticized his former employer’s valuation methods
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Welcome to The Brink. I’m Eliza Ronalds-Hannon, reporting from Atlanta, where I looked into TCW Group’s valuation of its debt and equity stakes in Red Lobster, which Jeffrey Gundlach criticized harshly. We also have news on QVC, Waldorf Productions and a Russian billionaire’s legal dispute. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
Jeffrey Gundlach unleashed a storm of criticism this week, seemingly aimed at Red Lobster lender TCW Group, over how the asset manager is valuing its debt and equity stakes in the struggling restaurant chain.