Latest news with #TCW
Zawya
6 days ago
- Business
- Zawya
More private credit partnerships likely between GCC sovereigns and asset managers
Asset managers are still assessing the impact of the US trade tariff announcements on private credit, but more partnerships between sovereigns and asset managers in the GCC are likely in the asset class. While equities were gripped by volatility in response to the wide-ranging tariffs in April, the impact on credit was different, particularly as the US administration delayed proposed charges in response to a US Treasury selloff. Richard Miller, Group MD and CIO of US-based asset manager TCW, which opened a DIFC office last year, described the tariffs as 'not helpful' and said, 'Economic activity one thing it cannot take is uncertainty, and [the tariffs have] caused a great deal of uncertainty.' Despite the US administration pausing its 145% tariff on China, the uncertainty surrounding it has not gone away, yet this may boost private credit, as senior secured lending is often viewed as a safe harbour. 'It's a time of volatility, and you want to be in safer investments, less risky investments, more senior in the cap stack,' Miller said. 'But I don't know that it's just 'close your eyes and go to private credit'. Manager selection always matters.' Enter Abu Dhabi sovereign Mubadala, which recently announced a $1-billion deployment of private credit and asset-based lending with US firm Fortress, in which it owns a stake as of 2024. Wael Younan, TCW's Middle East co-head of sovereign wealth management based in the DIFC, said there are increased discussions with sovereign wealth funds on allocations to private credit. He added that there are now more private credit teams and allocations which is a strategic long-term focus. 'Liquidity is going to be needed; it's about what they can do with the existing public market pool, as they're building on their private allocation, and how much yield can they get on the public side,' he said. 'That is that balance that you're going to see more and more of these sovereign wealth funds seeking,' he said. More partnerships between sovereign wealth funds and asset managers are likely, he added. Moody's recently downgraded the USA's last perfect credit rating from AAA to Aa1. Its recent report on emerging market exporters said the MENA's direct exposure to US tariffs is limited by most of its exports not being subject to tariffs. But oil and gas and petrochemical companies would be hurt by slowing global economic activity and lower oil prices. Sustained depressed hydrocarbon prices would lead to lower government spending, which could slow domestic economies. A significant global slowdown could weaken demand for real estate in the GCC, particularly in the UAE. Growth for the MENA banking sector will become more difficult if economic activity slows and lending margins compress, Moody's said. Dan Farley, CIO, Investment Solutions Group, State Street Global Advisors (SSGA), said recent events had parallels to President Trump's first term, including a tendency to go back and forth on negotiations, although fundamentals played themselves out. SSGA saw the initial tariff announcement as a starting point rather than the end point, a forecast which is, so far, proving correct. 'What we're not saying is 'ignore it', nor are we saying 'don't worry about the long term'. Where we have discretion to manage asset allocation, we have reduced the risk in portfolios, we have gone underweight to equities, relevant to our benchmark, and put some more money in fixed income as a good diversifier. We continue to be overweight on gold,' Farley said. Private credit has allowed investors to pick up incremental returns in their portfolio at somewhat similar risk levels to public investment. While they are not exactly the same in publics and privates, in many cases they are somewhat similar, Farley said. There may be concerns about the short-term impact of a potential economic slowdown and its impact on creditworthiness. But as a strategic asset, he said, private credit is here to stay. (Reporting by Imogen Lillywhite; editing by Seban Scaria)
Yahoo
19-05-2025
- Business
- Yahoo
TCW Names Scott Dennis Head of ETFs
Former BlackRock ETF Executive to Further Expand TCW's Rapidly Growing ETF Offerings LOS ANGELES, May 19, 2025--(BUSINESS WIRE)--The TCW Group, a leading global asset manager, today announced that it has named Scott Dennis as the firm's Head of Exchange Traded Funds (ETFs). In this role, he will oversee ETF Capital Markets across asset classes as well as TCW's ETF strategy and business execution. He is based in the firm's Boston office and reports to Jennifer Grancio, Global Head of Distribution. Dennis' appointment comes as TCW has seen significant growth in both the number of ETFs it offers and assets. Since entering the ETF business in 2023, TCW's offerings have rapidly grown to six fixed-income and five equity ETFs, with assets above $3 billion. TCW's flagship fixed income ETF, the TCW Flexible Income ETF (FLXR), has seen its assets triple in the past year to more than $1 billion and is now the fifth-largest ETF in its category. "More and more investors and financial advisors are looking to TCW to provide a diversity of ETFs that offer active management, intraday liquidity, and tax efficiency," said Grancio. "As we plan an expansion of our platform in the coming year and beyond, Scott will be an integral leader as we take our ETF offerings into an exciting new stage of growth to meet this tremendous investor demand." Dennis joins TCW after 16 years at BlackRock in its iShares business, where he was a core member of the team that built its over $1 trillion fixed income ETF platform, focusing on ETF capital markets, distribution, and trading strategy. Most recently, he led the iShares Insurance Solutions Business, where he was responsible for growing ETF usage on insurance general account balance sheets as well as overseeing the accounting and regulatory initiatives for ETF usage across the insurance industry. During his tenure at BlackRock, he held several leadership positions in the iShares business as the Head of Wealth Capital Markets, iShares Markets Coverage and iShares Fixed Income Capital Markets. Prior to BlackRock, Dennis worked at Morgan Stanley in fixed income institutional sales and trading and Bloomberg's trading systems group. He earned his Bachelor of Arts degree from Lafayette College. "TCW has emerged as one of the most exciting and innovative ETF issuers over the past few years, building on its 50-plus year heritage as a trusted asset manager," Dennis said. "I look forward to contributing to this team as we build on these recent successes by offering more active investment opportunities and grow assets." About The TCW Group TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets with over half a century of investment experience. Through its ETF suite, TCW MetWest Funds and TCW Funds, TCW manages one of the largest fund complexes in the U.S. TCW's clients include many of the world's largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit Disclosures: Before investing you should carefully consider the fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from Please read the prospectus carefully before you invest. This material is for general information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. TCW, its officers, directors, employees or clients may have positions in securities or investments mentioned in this publication, which positions may change at any time, without notice. While the information and statistical data contained herein are based on sources believed to be reliable, we do not represent that it is accurate and should not be relied on as such or be the basis for an investment decision. The information contained herein may include preliminary information and/or "forward-looking statements." Due to numerous factors, actual events may differ substantially from those presented. TCW assumes no duty to update any forwardlooking statements or opinions in this document. Any opinions expressed herein are current only as of the time made and are subject to change without notice. Past performance is no guarantee of future results. Investments involve risk. Principal loss is possible. The Fund is advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC. NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE © 2025 TCW Group. All rights reserved. View source version on Contacts Media Contact:Doug MorrisHead of Corporate CommunicationsTel: 213-244-0509
Business Wire
19-05-2025
- Business
- Business Wire
TCW Names Scott Dennis Head of ETFs
LOS ANGELES--(BUSINESS WIRE)--The TCW Group, a leading global asset manager, today announced that it has named Scott Dennis as the firm's Head of Exchange Traded Funds (ETFs). In this role, he will oversee ETF Capital Markets across asset classes as well as TCW's ETF strategy and business execution. He is based in the firm's Boston office and reports to Jennifer Grancio, Global Head of Distribution. Dennis' appointment comes as TCW has seen significant growth in both the number of ETFs it offers and assets. Since entering the ETF business in 2023, TCW's offerings have rapidly grown to six fixed-income and five equity ETFs, with assets above $3 billion. TCW's flagship fixed income ETF, the TCW Flexible Income ETF (FLXR), has seen its assets triple in the past year to more than $1 billion and is now the fifth-largest ETF in its category. 'More and more investors and financial advisors are looking to TCW to provide a diversity of ETFs that offer active management, intraday liquidity, and tax efficiency,' said Grancio. 'As we plan an expansion of our platform in the coming year and beyond, Scott will be an integral leader as we take our ETF offerings into an exciting new stage of growth to meet this tremendous investor demand.' Dennis joins TCW after 16 years at BlackRock in its iShares business, where he was a core member of the team that built its over $1 trillion fixed income ETF platform, focusing on ETF capital markets, distribution, and trading strategy. Most recently, he led the iShares Insurance Solutions Business, where he was responsible for growing ETF usage on insurance general account balance sheets as well as overseeing the accounting and regulatory initiatives for ETF usage across the insurance industry. During his tenure at BlackRock, he held several leadership positions in the iShares business as the Head of Wealth Capital Markets, iShares Markets Coverage and iShares Fixed Income Capital Markets. Prior to BlackRock, Dennis worked at Morgan Stanley in fixed income institutional sales and trading and Bloomberg's trading systems group. He earned his Bachelor of Arts degree from Lafayette College. 'TCW has emerged as one of the most exciting and innovative ETF issuers over the past few years, building on its 50-plus year heritage as a trusted asset manager,' Dennis said. 'I look forward to contributing to this team as we build on these recent successes by offering more active investment opportunities and grow assets.' About The TCW Group TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets with over half a century of investment experience. Through its ETF suite, TCW MetWest Funds and TCW Funds, TCW manages one of the largest fund complexes in the U.S. TCW's clients include many of the world's largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit Disclosures: Before investing you should carefully consider the fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from Please read the prospectus carefully before you invest. This material is for general information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. TCW, its officers, directors, employees or clients may have positions in securities or investments mentioned in this publication, which positions may change at any time, without notice. While the information and statistical data contained herein are based on sources believed to be reliable, we do not represent that it is accurate and should not be relied on as such or be the basis for an investment decision. The information contained herein may include preliminary information and/or "forward-looking statements." Due to numerous factors, actual events may differ substantially from those presented. TCW assumes no duty to update any forwardlooking statements or opinions in this document. Any opinions expressed herein are current only as of the time made and are subject to change without notice. Past performance is no guarantee of future results. Investments involve risk. Principal loss is possible. The Fund is advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC. © 2025 TCW Group. All rights reserved.
Yahoo
19-05-2025
- Business
- Yahoo
TCW Names Scott Dennis Head of ETFs
Former BlackRock ETF Executive to Further Expand TCW's Rapidly Growing ETF Offerings LOS ANGELES, May 19, 2025--(BUSINESS WIRE)--The TCW Group, a leading global asset manager, today announced that it has named Scott Dennis as the firm's Head of Exchange Traded Funds (ETFs). In this role, he will oversee ETF Capital Markets across asset classes as well as TCW's ETF strategy and business execution. He is based in the firm's Boston office and reports to Jennifer Grancio, Global Head of Distribution. Dennis' appointment comes as TCW has seen significant growth in both the number of ETFs it offers and assets. Since entering the ETF business in 2023, TCW's offerings have rapidly grown to six fixed-income and five equity ETFs, with assets above $3 billion. TCW's flagship fixed income ETF, the TCW Flexible Income ETF (FLXR), has seen its assets triple in the past year to more than $1 billion and is now the fifth-largest ETF in its category. "More and more investors and financial advisors are looking to TCW to provide a diversity of ETFs that offer active management, intraday liquidity, and tax efficiency," said Grancio. "As we plan an expansion of our platform in the coming year and beyond, Scott will be an integral leader as we take our ETF offerings into an exciting new stage of growth to meet this tremendous investor demand." Dennis joins TCW after 16 years at BlackRock in its iShares business, where he was a core member of the team that built its over $1 trillion fixed income ETF platform, focusing on ETF capital markets, distribution, and trading strategy. Most recently, he led the iShares Insurance Solutions Business, where he was responsible for growing ETF usage on insurance general account balance sheets as well as overseeing the accounting and regulatory initiatives for ETF usage across the insurance industry. During his tenure at BlackRock, he held several leadership positions in the iShares business as the Head of Wealth Capital Markets, iShares Markets Coverage and iShares Fixed Income Capital Markets. Prior to BlackRock, Dennis worked at Morgan Stanley in fixed income institutional sales and trading and Bloomberg's trading systems group. He earned his Bachelor of Arts degree from Lafayette College. "TCW has emerged as one of the most exciting and innovative ETF issuers over the past few years, building on its 50-plus year heritage as a trusted asset manager," Dennis said. "I look forward to contributing to this team as we build on these recent successes by offering more active investment opportunities and grow assets." About The TCW Group TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets with over half a century of investment experience. Through its ETF suite, TCW MetWest Funds and TCW Funds, TCW manages one of the largest fund complexes in the U.S. TCW's clients include many of the world's largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit Disclosures: Before investing you should carefully consider the fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from Please read the prospectus carefully before you invest. This material is for general information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. TCW, its officers, directors, employees or clients may have positions in securities or investments mentioned in this publication, which positions may change at any time, without notice. While the information and statistical data contained herein are based on sources believed to be reliable, we do not represent that it is accurate and should not be relied on as such or be the basis for an investment decision. The information contained herein may include preliminary information and/or "forward-looking statements." Due to numerous factors, actual events may differ substantially from those presented. TCW assumes no duty to update any forwardlooking statements or opinions in this document. Any opinions expressed herein are current only as of the time made and are subject to change without notice. Past performance is no guarantee of future results. Investments involve risk. Principal loss is possible. The Fund is advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC. NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE © 2025 TCW Group. All rights reserved. View source version on Contacts Media Contact:Doug MorrisHead of Corporate CommunicationsTel: 213-244-0509
Yahoo
08-05-2025
- Business
- Yahoo
TCW CEO Koch Says Clarity Is Reprieve Companies Need Most
TCW CEO and President Katie Koch discussed the market reaction to tariffs, explained why she expects to see more buying opportunities soon, and set out the three potential paths she sees for the US economy. Koch spoke on the sidelines of The Milken Institute Global Conference in Beverly Hills, California.
