TCW marks down Red Lobster equity stake by 98%

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TCW marks down Red Lobster equity stake by 98%

privateequitywire

3 months ago

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TCW Group has sharply reduced the value of an equity position in Red Lobster held through its Direct Lending VII vehicle, marking it down by 98% since acquiring the stake as part of the restaurant chain’s 2024 restructuring, according to a report by Bloomberg.
The report cites regulatory filings as showing that the holding, previously valued at $31m, has been written down over consecutive quarters to less than $1m, with the stake now worth approximately $761,000.
The asset manager gained ownersh...

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