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Federal Court OKs Proposed TCW Sale

PIMCO granted patent for GDP-weighted global bond indexing scheme, Compass EMP rolls out 13 mutual funds, and American Century announces the liquidation of an S&P 500 Index fund.

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Carlyle Group's (CG) planned acquisition of TCW Group from  Societe Generale (GLE) will not be sidetracked by an arbitration case filed by a former TCW unit. The acquisition would place 60% of TCW in Carlyle hands and leave the other 40% of the firm's equity in the hands of management and employees. A TCW spin-off, EIG Global Energy Partners, had sought to block the sale.

After separating from TCW in December 2010, EIG retained its interest in a joint venture with TCW responsible for running a $4 billion energy investment fund. When the proposed TCW takeover was announced in August, EIG filed a suit to block the transaction. EIG's suit claims the acquisition could provide Carlyle--a competitor with rival energy funds--access to otherwise sensitive and proprietary information about EIG's portfolio of investments.

Morningstar Fund Analysts does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.