TCW adds Purdy as special situations analyst to credit research group

By Susanna Moon

Chicago, April 18 – TCW Group said Steven Purdy has joined the firm as a managing director and special situations analyst in TCW’s fixed-income credit research group, based in Los Angeles.

Purdy will be responsible for analyzing and identifying credit opportunities with companies in stressed and distressed situations. He will report to Jamie Farnham, director of credit research, who co-leads TCW’s U.S. credit team with Jerry Cudzil, head of U.S. credit trading.

Purdy joins the firm from TPG Capital in London, where he was a managing director for sourcing and executing opportunistic credit investments in special situations. Before that, he was a managing director at Goldman Sachs in both London and New York where he held leadership roles in distressed debt investing businesses.

Purdy has a master’s degree in business administration from Harvard University and bachelor’s degrees in economics and political science from Yale University.

“While we remain defensive in our overall portfolio positioning and cautious in credit at this stage in the credit cycle, we have been adding risk into portfolios in disciplined and measured ways to take advantage of new investment opportunities,” Cudzil said.

“In the same way, we have been adding top talent throughout our leading U.S. fixed-income team to further strengthen our capabilities and position TCW for growth as opportunities present themselves during the potential deleveraging, and later releveraging, phases of the cycle.”

TCW is an asset management firm based in Los Angeles.

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