This past Monday, in the wake of last month's termination of TCW Group, Inc. (TCW) Chief Investment Officer Jeffrey Gundlach, TCW announced it has voluntarily withdrawn its UST/TCW Senior Mortgage Securities Fund, L.P. (TCW LP) from the U.S. Treasury's Legacy Securities Public-Private Investment Program , and will liquidate TCW LP and distribute capital to the TCW LP investors. TCW had previously raised the requisite $500 million of private capital in order to obtain the matching debt and equity funds from Treasury to fund TCW LP this past September 30, however given the "early stage of investment in this particular product," and "in light of the recent changes in the [TCW] portfolio management team," TCW felt the withdraw "is appropriate and in-line with TCW's commitment to act in the best interests" of its clients.

Separately, yesterday, Treasury released its most current transactions report for the period ending January 4, 2010, which reflects the wind up of TCW LP.