Investment manager The TCW Group has voluntarily withdrawn from the U.S. Department of the Treasury’s Public Private Investment Program (PPIP), the firm said on Monday.

TCW was invested via its UST/TCW Senior Mortgage Securities Fund, according to the Jan. 4 statement. The fund has roughly $500 million in assets under management and completed its initial closing on Sept. 30, 2009. The Los Angeles-based firm was selected for the program in July.

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