Joseph Sullivan, Former Chief Operating and Compliance Officer of Peconic Partners, Joins DoubleLine

LOS ANGELES, Jan. 12 /PRNewswire/ -- Joseph W. Sullivan III, CPA, a former senior executive of Peconic Partners and Forstmann-Leff Associates, has been named Treasurer of DoubleLine Funds Trust, DoubleLine Capital announced today. DoubleLine Capital will be the adviser to DoubleLine Funds, a mutual fund complex which earlier today filed a registration statement with the Securities and Exchange Commission.

Mr. Sullivan, 52, will serve as the key liaison officer of DoubleLine Funds to the business unit's service providers, including the fund administrator, custodian, legal counsel and auditor. He will report to Ronald Redell, President of DoubleLine Funds.

"Joe Sullivan brings to DoubleLine Funds deep experience in both financial and operational administration," Redell said. "This mix is invaluable in assuring strong transactional and administrative controls of our accounts. Joe also is well known for his leadership in investment administration standards and reform. We are delighted to bring his talents to the service of our investors."

Before joining DoubleLine, Mr. Sullivan served from 1999 to 2008 at Peconic Partners, a hedge fund manager, and its predecessor firm, Forstmann-Leff Associates. Mr. Sullivan's last position at the firm was Chief Operating Officer and Chief Compliance Officer. In that capacity, he was responsible for accounting, administration, operational risk management, compliance and regulatory functions.

For over two years, Mr. Sullivan served at Hyperion Capital Management as Treasurer and Chief Financial Officer of Hyperion's closed-end bond funds where he reported directly to Louis C. Lucido, then-Chief Operating Officer and Managing Director and today Executive Vice President at DoubleLine Capital. Previously, Mr. Sullivan worked for five years in Merrill Lynch's Investment Banking Division where he served as Treasurer and CFO of several leveraged buyout and venture capital funds. Mr. Sullivan also has been employed at Standard & Poor's, Shearson Lehman Hutton and Wiss & Company, a public accounting firm.

"I am excited to be working with such a high-quality investment team dedicated to client service," Mr. Sullivan said. "I look forward to helping my colleagues at DoubleLine Funds build a premier fixed income management platform."

Mr. Sullivan is a licensed Certified Public Accountant. He graduated Magna cum Laude with a Bachelor of Science in Accounting from the University of Albany. He is a member of the Economic Club of New York, National Society of Compliance Professionals, American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. An authority on the functions and standards for chief compliance officers in the investment advisory industry, Mr. Sullivan was a panelist at the Security and Exchange Commission's 2006 CCOutreach Conference, held to promote open communications and coordination among regulators and the industry on mutual fund, investment adviser and broker-dealer compliance issues.

About DoubleLine Capital LP

DoubleLine Capital LP is a fixed income investment management firm and Registered Investment Adviser under Investment Advisers Act of 1940. The firm is majority employee-owned with CEO Jeffrey Gundlach and President Philip Barach holding a combined controlling interest in the firm. DoubleLine's headquarters is in Los Angeles, CA.  

SOURCE DoubleLine Capital LP