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First Eagle Investments Completes $2.2 Billion Direct Lending Fundraising

 
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First Eagle Alternative Credit, LLC raises $2.2 billion in direct lending.

first eagle investments

First Eagle Alternative Credit, LLC (“First Eagle” or the “firm”) is an alternative credit manager that provides direct lending and broadly syndicated senior loan financing solutions to middle-market companies. The firm has recently announced that it has raised over $2.2 billion in direct lending available capital in the last twelve months. This fundraising was completed to support the investment strategies of First Eagle Alternative Credit and its affiliates.

The company has been active in the credit markets for over 20 years and has a team of more than 20 investment professionals with an average of 18 years of experience in credit investing. The firm’s investment approach is focused on preserving capital and generating attractive risk-adjusted returns for its investors.

Matthew McLennan, First Eagle Investments portfolio manager, joined 'The Exchange' to discuss the bond market and the markets as a whole. McLennan said that the bond market is "pretty rich" and that investors should be cautious about chasing yield. He also noted that there are a lot of uncertainties in the market, including inflation, supply chain disruptions, and geopolitical risk.

First Eagle Investments is an independent, privately owned asset management firm dedicated to serving the needs of individuals and institutions. The firm manages over $116 billion in assets and has a long history of providing value-oriented investment strategies to its clients. First Eagle Investments was founded in 1864 and has been in business for more than 150 years.

Thirty-year market veteran Matthew McLennan of First Eagle Investments was among those early on to warn that ultra-easy monetary and fiscal policies could lead to inflation and other unintended consequences. McLennan has stated that he believes the Federal Reserve's decision to keep interest rates low for an extended period of time could lead to "a very dangerous situation."

Kirkland & Ellis advised First Eagle Alternative Credit (“FEAC”), the $21 billion credit platform of First Eagle Investments, on the closing of its $1.1 billion credit fund. The fund will invest in senior secured loans to middle-market companies across a variety of industries.

First Eagle's Matthew McLennan has to be “short social acceptance”, and now is one of those times. “The lesson of the late 90s, where we saw the tech bubble and the telecom bubble, is that when you have the social acceptance of a new technology or a new paradigm, the valuations can get very extreme,” he said.

First Eagle Investments completed the previously announced acquisition of NewStar Financial Inc., a middle-market direct lender, on August 1, 2022. The acquisition was made through First Eagle Alternative Credit, LLC, which is a subsidiary of First Eagle Investments.

Crescent Capital BDC, Inc. (“Crescent BDC” or the “Company”) (NASDAQ: CCAP) and First Eagle Alternative Credit, LLC (“First Eagle”) have announced that they have entered into a definitive merger agreement. Under the terms of the agreement, Crescent BDC will merge with a subsidiary of First Eagle, and Crescent BDC stockholders will receive $12.50 per share in cash.

In conclusion, First Eagle Alternative Credit, LLC is a well-established alternative credit manager that provides direct lending and broadly syndicated senior loan financing solutions to middle-market companies. The firm has recently raised over $2.2 billion in direct lending available capital to support its investment strategies. The company has a long history of providing value-oriented investment strategies to its clients and managing over $116 billion in assets. Its investment approach is focused on preserving capital and generating attractive risk-adjusted returns for its investors. This news is classified as 'Research' and is relevant to the 'Stocks' category.

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