Assets worth $10 million stolen from bond fund manager's California home

Reuters News
Posted: Sep 20, 2012 9:33 PM
Assets worth $10 million stolen from bond fund manager's California home

By Alex Dobuzinskis

LOS ANGELES (Reuters) - Assets worth more than $10 million, including famous works of art, a Porsche and luxury watches, have been stolen from the California home of one of the world's leading bond fund managers, a source familiar with the situation said on Thursday.

The burglary at Jeffrey Gundlach's home in the coastal town of Santa Monica occurred between the afternoon of September 12 and the night of September 14, according to police.

The massive heist included paintings by Jasper Johns and Piet Mondrian, a red 2010 Porsche Carrera 4S taken from the garage, expensive watches made by the likes of Glashutte and Breitling, some wine and a small amount of cash, police said in a statement.

Police did not identify the burglary victim, but the source familiar with the situation confirmed it was Gundlach, the CEO of DoubleLine Capital.

A separate source connected to the case said Gundlach was offering a $200,000 reward for the recovery of the stolen items, and anyone with information on the theft was urged to call the Santa Monica Police Department.

The police statement detailing the crime showed images of the stolen art pieces, which also included works by Frank Stella, Guy Rose, Hanson Duvall Puthuff and other artists.

The painting by Johns, who last year received the Presidential Medal of Freedom, is his 1956 "Green Target." The piece by the late Dutch artist Mondrian is his 1936 "Composition (A) En Rouge Et Blanc."

Gundlach is the chief executive officer and chief investment officer of DoubleLine Capital. He was a star bond investor with TCW Inc but left the company amid acrimony and went on to found DoubleLine.

(Additional reporting by Mary Slosson; Editing by Cynthia Johnston and Sandra Maler)