LOS ANGELES, April 21, 2014 /PRNewswire/ -- Ignacio Sosa, previously Executive Vice President for Global Bond Product Management at PIMCO, will join DoubleLine Capital LP next month as Director of the firm's newly formed Product Solutions Group.
Mr. Sosa will lead the Product Solutions Group in three key areas. The group will contribute to the development of new investment products, engage in discussions with clients and their advisors on existing DoubleLine offerings, and assist in building new business, particularly outside the United States.
"I'm delighted to welcome Ignacio Sosa aboard," DoubleLine CEO Jeffrey Gundlach said. "Throughout his career, Ignacio has conceived new asset-management businesses as well as specific products, and managed them to success. His talents, I'm sure, will strengthen DoubleLine's efforts to build our business and extend new, innovative product offerings to our valued clients and their advisors."
Mr. Sosa, who will join DoubleLine on May 12, will report to Mr. Gundlach. His group will collaborate closely with the firm's investment, operations, marketing and investor-relations teams.
"Start-ups of equity boutiques happen all the time, but for decades, fixed income assets have remained largely concentrated among a few investment firms because launches of new bond managers are rare events," Mr. Sosa said. "DoubleLine has proven the happy exception since its founding a little more than four years ago. Jeffrey and his team have built a growing, nimble, client-focused company, with diversified strategies in fixed income and equities. Their track record of risk-adjusted returns speaks for itself. So joining DoubleLine at this early stage in its development is especially compelling."
Mr. Sosa has more than 30 years of experience in asset management. From October 2011 to April 16, 2014, he worked at Newport Beach-headquartered PIMCO. He joined PIMCO as Executive Vice President/Lead Emerging Markets Product Manager, later becoming the firm's Executive Vice President for Global Bond Product Management.
Before PIMCO, Mr. Sosa served as a Managing Director at Voras Capital Management LP, joining the New York-based firm shortly after its founding by Zoe Cruz, former co-president of Morgan Stanley and Company. At Voras, he managed 25%-30% of the firm's global macro fund, focusing on global fixed income, equities and precious metals.
In March 1999, Mr. Sosa co-founded and co-managed OneWorld Investments, LP and its successor firm Globalis Investments, LLC, both investment advisors focused on long/short macro investing in emerging markets and G-7 sovereign bonds and equities. Macquairie Group of Australia acquired Globalis in September 2008. Mr. Sosa subsequently joined Voras in the fourth quarter of 2009 after expiration of a one-year non-compete clause in his buyout agreement.
Before OneWorld Investments, Mr. Sosa served at BankBoston Corporation where he founded and managed a 45-person emerging markets investment banking operation with offices in Boston, London and Singapore. Previously, he was a Managing Director and co-founder of the emerging markets debt and derivatives trading team at Bankers Trust in New York and Tokyo. He began his career as an Assistant Vice President at Bank Boston, working in Boston and Buenos Aires.
Mr. Sosa has been profiled in Euromoney, Financial Times and Risk magazine. His comments, letters and op-ed columns have been published in The Washington Post, The Wall Street Journal, The New York Times, The Financial Times, BusinessWeek, The Huffington Post, Bloomberg News and other publications. He has appeared on CNBC and on the Japanese television network NHK. He has testified twice on U.S.-Cuba issues before the U.S. House of Representatives Committee on Foreign Relations.
About DoubleLine Capital LP
DoubleLine Capital LP, is a registered investment adviser under the Investment Advisers Act of 1940. DoubleLine and its affiliates managed approximately $49 billion in assets held in closed- and open-end 1940 Act funds, separate accounts, hedge funds and UCITS as of the March 31 end of the first quarter of 2014. DoubleLine's headquarters is in Los Angeles, CA. Its offices can be reached by telephone at (213) 633-8200 or by e-mail at [email protected]. Media can reach DoubleLine by e-mail at [email protected]. DoubleLine® is a registered trademark of DoubleLine Capital LP.