NEW YORK, August 1, 2022 /PRNewswire/ — First Eagle Investments (“First Eagle”) announced today that it has completed the previously announced acquisition of leading alternative credit manager Napier Park Global Capital (“Napier Park”). From June 30, 2022Napier Park managed approx. $19.5 billion through credit funds, US and European secured loan obligations (CLOs) and real assets, primarily for institutions.
First Eagle Investments is a private, independent investment company with approximately $101.8 billion of assets under management at June 30, 2022; on a pro forma basis to include Napier Park, First Eagle’s total assets under management are approximately $121.3 billion from the same date, including $40.8 billion into alternative credit assets. The acquisition of Napier Park has significantly expanded First Eagle’s capabilities in the large and diverse alternative credit market, enabling it to offer its clients exposure to US and European opportunistic credit, US mortgages and consumer, US municipal debt and equipment leasing. It also improved the size and scope of First Eagle’s CLO footprint, including the addition of European CLO management.
“Napier Park has built a solid track record of solving the most critical portfolio needs of sophisticated institutional investors, and its investment team is among the most experienced in the industry, with experience across investment cycles. market,” said Mehdi Mahmoud, President and CEO of First Eagle Investments. “We are confident that Napier Park’s strategies will be compelling to First Eagle’s clients and are excited to offer them on our platform.”
As a stand-alone unit wholly owned by First Eagle Investments, Napier Park is now trading as “Napier Park, a First Eagle Investments Company” while retaining its investment approach, business focus and client service . Jim O’Brien and Jon Dorfman, who served as chief executive and chief investment officer respectively, continue to run Napier Park as managing directors, reporting to Mahmud.
“First Eagle’s investment-centric culture is consistent with the environment we have created at Napier Park, and we are thrilled to be part of such a dynamic organization,” O’Brien said. “First Eagle’s strong global institutional distribution structure will reinforce the momentum we have built in our business over the years and help us connect with a broader base of investors as we continue our drive to generate returns. further through credit and liquidity risk premia,” Dorfmann added.
About First Eagle Investments
First Eagle Investments is an independent, private investment management firm headquartered in New York with about $101.8 billion of assets under management at June 30, 2022; on a pro forma basis to include Napier Park, First Eagle’s total assets under management are approximately $121.3 billion from that same date. Dedicated to providing prudent management of its clients’ assets, the firm focuses on active, fundamental, benchmark-independent investing, with a strong emphasis on downside risk mitigation. With a heritage dating back to 1864, First Eagle has helped clients avoid permanent capital depreciation and earn attractive returns through widely varying economic cycles – a tradition that is at the heart of its mission today. The firm’s investment capabilities include equities, fixed income, alternative credits and multi-asset strategies. For more information about First Eagle, please visit www.firsteagle.com.
About Napier Park Global Capital
Napier Park Global Capital, a First Eagle Investments company, is a leading alternative credit manager with approximately $19.5 billion of assets under management, June 30, 2022, on credit funds, CLOs and real assets, mainly in the US and European markets. Napier Park is distinguished by its decades of specialist credit expertise, world-class infrastructure and creativity, delivering effective solutions to a wide range of institutional clients. Napier Park has offices in New York, London and Zürich. For more information, visit www.napierparkglobal.com.
Pro forma Total Assets Under Management (AUM) represents the combined AUM of First Eagle Investments and Napier Park Global Capital at June 30, 2022. He understands $1.5 billion committed capital and other non-paying capital of First Eagle Alternative Credit and $0.9 billion Napier Park’s committed and other non-paying capital, including assets managed by Regatta Loan Management LLC. Pro forma results are for illustrative purposes only and are not actual performance results. Pro forma results reflect a business combination that has not yet occurred and may differ materially from actual performance results.
First Eagle Investments is the brand name of First Eagle Investment Management, LLC and its subsidiary investment advisers. First Eagle Alternative Credit and Napier Park are the brand names of two investment advisory subsidiaries engaged in the alternative credit industry.
View original content to download multimedia: https://www.prnewswire.com/news-releases/first-eagle-investments-completes-acquisition-of-napier-park-global-capital-expanding-alternative-credit-capabilities -301597017.html
SOURCE First Eagle Investments