The U.S. Department of the Treasury said Thursday that The TCW Group has repaid more than $200 million in debt it owed the federal government as result of its decision to opt out of the Public Private Investment Program (PPIP).

On Jan. 4, the Los Angeles-based firm decided to withdraw its UST/TCW Senior Mortgage Securities Fund, which had approximately $500 million in assets under management as of Sept. 30, from the Treasury program. TCW said it would liquidate the fund and redistribute capital to its investors.

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