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Metropolitan West Asset Management
Metropolitan West Asset Management was founded in 1996 by Tad Rivelle, Stephen Kane, and a team of fixed-income veterans who had previously worked...
Metropolitan West Asset Management
Metropolitan West Asset Management was founded in 1996 by Tad Rivelle, Stephen Kane, and a team of fixed-income veterans who had previously worked together at Hotchkis & Wiley. The firm was acquired by The TCW Group in 2009, but operates as a distinct investment unit within that larger structure — a rare arrangement that preserves its brand, culture, and investment autonomy. The wealth origin of the founding team came from their earlier careers in institutional asset management, not from any single family. The firm's investment strategy centers on credit-intensive fixed income — it manages portfolios spanning investment-grade corporate bonds, high-yield debt, mortgage-backed securities, and structured credit. Metropolitan West also runs a private credit platform through TCW's alternative assets division. The geographic footprint is US-dominated but extends to developed markets in Europe and parts of Asia. Named holdings have included issuers such as Ford Motor Credit, Bank of America, and various agency mortgage-backed securities (per public filings). The firm does not disclose individual portfolio company names, as its strategies are typically commingled funds. Metropolitan West reported $159.9 billion in AUM as of March 2025 (per SEC Form ADV). The Los Angeles-headquartered firm maintains additional investment offices in New York and London. Its parent, TCW Group, manages over $200B globally and is majority-owned by The Carlyle Group. The firm has no disclosed philanthropic arm or family office structures — it is purely an institutional asset management operation. The structural differentiator is Metropolitan West's continued autonomy within TCW. The founders retained control over investment decisions and branding, a model rare among large-asset-manager acquisitions. This governance allows the firm to maintain a specialist fixed-income focus while accessing TCW's distribution, compliance, and operational infrastructure.
General information
Firm type
Asset Manager
Year founded
1996
AUM
~$160B (per SEC Form ADV, March 2025)
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Additional offices
New York, NY · London, United Kingdom
Principals
Tad Rivelle
Chief Investment Officer
Stephen Kane
Deputy Chief Investment Officer
Laird Landmann
Co-Head of Investment Management
David Lippman
Co-Head of Investment Management
Sector focus
Frequently asked questions
Who runs investment decisions at Metropolitan West?
Tad Rivelle is the firm's Chief Information Officer and has led investment strategy since co-founding the firm in 1996. Stephen Kane serves as Deputy CIO. They are supported by co-heads of investment management, Laird Landmann and David Lippman (per the firm's regulatory filings and public records).
How is Metropolitan West structured within TCW Group?
Metropolitan West operates as a distinct investment division within TCW Group, which acquired the firm in 2009. The founders retained control over investment decisions and branding — an arrangement that preserves autonomy while leveraging TCW's distribution and operational support.
What investment strategies does Metropolitan West focus on?
The firm specializes in fixed-income investing, with strategies that include investment-grade credit, high-yield debt, mortgage-backed securities, and structured credit. It also manages a private credit platform through its parent's alternative assets division. Its core expertise is credit-intensive fixed income for institutional and high-net-worth clients.
Does Metropolitan West participate in direct loans or only public-market bonds?
Metropolitan West primarily manages commingled funds that invest in public and private credit markets. It offers strategies across both liquid credit (corporate bonds, mortgages) and illiquid alternatives (private credit, infrastructure debt) through TCW's platform. The firm does not commonly serve as a lead direct lender but participates in larger syndicated and private placements.
What is the ownership structure behind Metropolitan West?
Metropolitan West is a wholly owned, integrated unit of TCW Group. TCW Group is majority-owned by The Carlyle Group, a global alternative asset manager. The firm's founders and key investment professionals remain as employees and partners within the broader TCW structure.
What is Metropolitan West's known posture on environmental, social, and governance (ESG) integration?
The firm's public filings indicate ESG factors are considered in investment processes for some strategies, typically through negative screening and engagement rather than blanket exclusion. Its parent TCW Group has a broader responsible investing policy. The firm does not market itself as a dedicated ESG manager.
How does Metropolitan West compare to other fixed-income asset managers?
With $160B in AUM, Metropolitan West ranks as a mid-to-large specialist fixed-income manager in the US. Its structure as an autonomous unit within a larger alternative manager (TCW) is rare — most similar firms have been fully integrated after acquisition. Its concentrated credit focus differentiates it from diversified managers covering equities and alternatives.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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