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Gundlach Porsche, Mondrian Stolen in $10 Million Burglary

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Sept. 20 (Bloomberg) -- Jeffrey Gundlach, chief executive officer of DoubleLine Capital LP, had more than $10 million in assets stolen when his Santa Monica, California, home was burglarized last week.

After returning from a trip, the owner of a Santa Monica residence realized that several paintings, a red 2010 Porsche Carrera 4S, watches, wine and a small amount of cash had been stolen, Santa Monica Police said in a statement yesterday. The victim is Gundlach, 52, according to a person briefed on the incident, who asked not to be identified because the matter is private.

The stolen artwork includes pieces by Piet Mondrian and Jasper Johns, and Gundlach is offering a $200,000 reward for information leading to the recovery of the stolen items, the person said. The burglary occurred sometime between Sept. 12 at 3 p.m. and Sept. 14 at 8 p.m. and the investigation is ongoing, according to the statement.

At least 10 paintings and five watches, including one by Breitling, were taken, the police said. The painting by Dutch artist Mondrian is titled “Composition (A) en Rouge et Blanc” and the piece by American artist Johns is called “Green Target.” An untitled work by American artist Cy Twombly also was stolen.

Gundlach, manager of the top-performing DoubleLine Total Return Bond Fund, was in New York on Sept. 13 at the Bloomberg Markets 50 Summit.

DoubleLine was founded by Gundlach and President Philip Barach in December 2009 and has attracted $22 billion in net deposits in the past 12 months through August, the third-highest amount after Vanguard Group Inc. and Pacific Investment Management Co., according to data compiled by Morningstar Inc. Gundlach said last week he may add stock funds to DoubleLine’s lineup of bond offerings.

The burglary was reported last night by the Los Angeles Times.

To contact the reporter on this story: Alexis Leondis in New York at aleondis@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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