NEW YORK–(BUSINESS WIRE)–First Eagle Investments, an impartial, privately owned funding administration agency, right this moment introduced it has signed a definitive settlement below which non-public fairness funds managed by Genstar Capital—a number one non-public fairness agency centered on investments in focused segments of the monetary providers, software program, healthcare and industrials industries—will make a majority funding within the firm.
With funding capabilities that embody fairness, fastened earnings, various credit score and multi-asset methods, First Eagle focuses on lively, elementary and benchmark-agnostic investing, with a powerful emphasis on draw back mitigation, in its efforts to assist purchasers keep away from everlasting impairment of capital and earn engaging returns via extensively different financial cycles. The transaction with Genstar will bolster First Eagle’s present enterprise technique of investing in its core enterprise whereas thoughtfully increasing the vary of high-quality, differentiated funding options it is ready to provide purchasers worldwide. First Eagle’s management and funding groups will stay intact, with every funding crew sustaining its philosophical autonomy.
“Serving purchasers is our major function at First Eagle and drives our dedication to offering excellent funding merchandise and distinctive consumer service. The transaction with Genstar preserves our client-centric ethos and working independence whereas offering recent capital to reinforce our price to purchasers,” stated Mehdi Mahmud, President and Chief Govt Officer of First Eagle. “Mixed with First Eagle’s fame as a most popular vacation spot for prime expertise, Genstar’s partnership will speed up the tempo at which we increase our funding capabilities and consumer attain, each organically and thru acquisitions. We’re thrilled with the alternatives forward.”
“First Eagle has demonstrated a monitor document of innovation and evolution over its lengthy and spectacular historical past, and we’re excited to companion with Mehdi, the funding groups and the agency’s broader management of their subsequent chapter of progress,” stated Tony Salewski, Managing Associate of Genstar. “The corporate’s investment-led tradition, market-leading funding options and broad distribution capabilities are differentiated amongst premiere funding managers. We imagine these attributes make First Eagle a perfect platform to capitalize on progress traits within the funding administration {industry}, and we look ahead to supporting the crew on this continued journey.”
Non-public fairness funds managed by Blackstone and Corsair, in addition to sure co-investors, have owned a majority financial curiosity in First Eagle Holdings, Inc., First Eagle’s mother or father firm, since 2015. The rest is held by First Eagle’s founding households and the agency’s present and former workers. Upon the closing of the transaction, anticipated in second half of 2025, non-public fairness funds managed by Genstar could have acquired a majority stake in First Eagle from Blackstone, Corsair and their co-investors.
Kelly Wannop, Managing Director of Blackstone, stated, “We thank the First Eagle crew for his or her partnership over the course of our funding within the firm, because the enterprise constructed upon its robust basis and additional diversified. We want them continued success along with Genstar transferring ahead.”
“We’re happy with First Eagle’s improvement over the course of Corsair’s practically 10-year partnership with Mehdi and the management crew, and our function in driving the evolution of the enterprise—most notably, diversifying the product base through the acquisition of different credit score experience and enhancing distribution, particularly within the US wealth channel. We want First Eagle all the perfect of their subsequent section of progress with Genstar,” stated D.T. Ignacio Jayanti, Chief Govt Officer of Corsair.
Simpson Thacher & Bartlett LLP and Davis Polk & Wardwell LLP are performing as authorized counsel, and Morgan Stanley & Co. LLC is performing as lead monetary advisor to First Eagle; BofA Securities, UBS Funding Financial institution and Jefferies are additionally performing as monetary advisors to First Eagle. Willkie Farr & Gallagher LLP is performing as authorized counsel, and Moelis & Firm LLC is performing as lead monetary advisor to Genstar, with Goldman Sachs & Co. LLC, Barclays and BMO Capital Markets additionally offering monetary advisory help. The transaction’s shut is topic to regulatory approvals and different customary closing situations. The phrases of the transaction should not disclosed.
About First Eagle Investments
First Eagle Investments is an impartial, privately owned funding administration agency headquartered in New York with roughly $144 billion in property below administration as of December 31, 2024. Devoted to offering prudent stewardship of consumer property, the agency focuses on lively, elementary and benchmark-agnostic investing, with a powerful emphasis on draw back mitigation. With a heritage courting again to 1864, First Eagle strives to assist purchasers keep away from everlasting impairment of capital and earn engaging returns via extensively different financial cycles. The agency’s funding capabilities embody fairness, fastened earnings, various credit score and multi-asset methods. For extra info, please go to www.firsteagle.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a number one non-public fairness agency that has been actively investing in high-quality firms for over 30 years. Primarily based in San Francisco, Genstar works in partnership with its administration groups and its community of strategic advisors to rework its portfolio firms into industry-leading companies. Genstar presently has roughly $49 billion of property below administration and targets investments centered on focused segments of the monetary providers, software program, healthcare, and industrials industries. With the funding from Genstar, First Eagle joins a portfolio of main platforms inside the funding administration ecosystem, together with ACA Group, Apex Group, Cerity Companions, Cetera Monetary Group, Docupace, Mercer Advisors, Numerix, Orion and others.
About Blackstone
Blackstone is the world’s largest various asset supervisor. We search to ship compelling returns for institutional and particular person buyers by strengthening the businesses through which we make investments. Our greater than $1.1 trillion in property below administration embody world funding methods centered on actual property, non-public fairness, infrastructure, life sciences, progress fairness, credit score, actual property, secondaries and hedge funds. Additional info is accessible at www.blackstone.com.
About Corsair
Corsair is a specialist funding agency providing alternatives for buyers and options for firms throughout its non-public markets Buyouts and Infrastructure companies. The agency’s buyouts enterprise is a monetary providers investor centered on making management investments in three verticals: funds, software program, and enterprise providers. The infrastructure enterprise operates as a strategic partnership with Investcorp as of December 2023. Investcorp Corsair focuses totally on core plus and value-added alternatives in transportation, logistics and related infrastructure subsectors, mixing working platforms and deep sectoral experience with fairness sponsorship. Corsair has invested $13.6 billion in capital throughout buyouts and infrastructure since inception. For extra info, please go to www.corsair-capital.com and comply with us on LinkedIn.
