First Eagle to Acquire THL Credit Advisors

December 16, 2019

On December 8, 2019, First Eagle Investment Management, LLC announced that it had entered into a definitive agreement to acquire THL Credit Advisors LLC.

Pursuant to the agreement, First Eagle Investment Management, LLC (“First Eagle”) will acquire THL Credit Advisors LLC (“THL Credit”). Following the transaction, First Eagle’s alternative credit platform will have approximately $23 billion in assets under management and advisement. The transaction is expected to close in the first quarter of 2020, subject to regulatory approval and other customary closing conditions. It has been approved by both parties’ respective boards of directors. Terms of the deal were not disclosed.

First Eagle, headquartered in New York, is an independent, privately owned investment management firm. It had approximately $99 billion in assets under management as of September 30, 2019. BofA Securities, Inc. acted as sole adviser to First Eagle in the transaction.

THL Credit, based in Boston, is an alternative investment manager that focuses on direct lending and broadly syndicated investments in separately managed accounts, CLOs, and public and private vehicles. It has $16.8 billion in assets under management as of September 30, 2019. THL Credit was advised in the transaction by Sandler O’Neill + Partners, L.P.

To read the press release: please click here.


Categories

Hedge Fund M&A, Investment Manager M&A, Mutual Fund M&A, Transactions