NEW YORK, Aug. 1, 2022 /PRNewswire/ — First Eagle Investments (“First Eagle”) right now introduced that it has accomplished the beforehand introduced acquisition of main various credit score supervisor Napier Park World Capital (“Napier Park”). As of June 30, 2022, Napier Park managed roughly $19.5 billion by way of credit score funds, US and European collateralized mortgage obligations (CLOs), and actual property, predominantly for establishments.
First Eagle Investments is an unbiased, privately owned funding agency with roughly $101.eight billion in property beneath administration as of June 30, 2022; on a professional forma foundation to incorporate Napier Park, First Eagle’s whole property beneath administration are roughly $121.three billion as of that very same date, together with $40.eight billion in various credit score property. The acquisition of Napier Park has considerably broadened First Eagle’s capabilities within the massive and numerous various credit score market, enabling it to supply purchasers publicity to opportunistic US and European credit score, US mortgages and shopper debt, US municipal debt and gear leasing. It additionally has enhanced the scale and scope of First Eagle’s CLO footprint, together with the addition of European CLO administration.
“Napier Park has constructed a distinguished observe file of fixing refined institutional buyers’ most important portfolio wants, and its funding group is among the many most seasoned within the trade, with expertise throughout market cycles,” stated Mehdi Mahmud, President and Chief Government Officer of First Eagle Investments. “We’re assured Napier Park’s methods can be compelling to First Eagle’s purchasers and are excited to supply them on our platform.”
As an autonomous, wholly owned unit of First Eagle Investments, Napier Park now goes to market as “Napier Park, a First Eagle Investments Firm” whereas sustaining its funding method, enterprise focus and consumer service. Jim O’Brien and Jon Dorfman—who served as Chief Government Officer and Chief Funding Officer, respectively—proceed to guide Napier Park as Managing Principals, reporting to Mahmud.
“First Eagle’s investment-centric tradition is in keeping with the surroundings we have created at Napier Park, and we’re excited to change into part of such a dynamic group,” stated O’Brien. “First Eagle’s strong world institutional distribution construction will bolster the momentum we have in-built our enterprise through the years and assist us join with a broader base of buyers as we proceed our efforts to ship incremental returns from credit score and liquidity danger premia,” added Dorfman.
About First Eagle Investments
First Eagle Investments is an unbiased, privately owned funding administration agency headquartered in New York with roughly $101.eight billion in property beneath administration as of June 30, 2022; on a professional forma foundation to incorporate Napier Park, First Eagle’s whole property beneath administration are roughly $121.three billion as of that very same date. Devoted to offering prudent stewardship of consumer property, the agency focuses on energetic, elementary and benchmark-agnostic investing, with a robust emphasis on draw back mitigation. With a heritage relationship again to 1864, First Eagle has helped its purchasers keep away from everlasting impairment of capital and earn engaging returns by way of broadly assorted financial cycles—a practice that’s central to its mission right now. The agency’s funding capabilities embrace fairness, fastened revenue, various credit score and multi-asset methods. For extra data on First Eagle, please go to www.firsteagle.com.
About Napier Park World Capital
Napier Park World Capital, a First Eagle Investments Firm, is a number one various credit score supervisor with roughly $19.5 billion in property beneath administration, as of June 30, 2022, throughout credit score funds, CLOs and actual property predominantly inside the US and European markets. Napier Park differentiates itself by way of its a long time of specialised credit score experience, world-class infrastructure and creativity, offering efficient options to a broad vary of institutional purchasers. Napier Park has places of work in New York, London and Zurich. For extra data go to www.napierparkglobal.com.
The whole professional forma property beneath administration (AUM) represents the mixed AUM of First Eagle Investments and Napier Park World Capital as of June 30, 2022. It consists of $1.5 billion of dedicated and different non-fee-paying capital from First Eagle Various Credit score and $0.9 billion of dedicated and different non-fee-paying capital from Napier Park, inclusive of property managed by Regatta Mortgage Administration LLC. Professional forma outcomes are for illustrative functions solely and are usually not precise efficiency outcomes. The professional forma outcomes mirror a enterprise mixture that had not but taken place and should differ materially from precise efficiency outcomes.
First Eagle Investments is the model title for First Eagle Funding Administration, LLC and its subsidiary funding advisers. First Eagle Various Credit score and Napier Park are model names for the 2 subsidiary funding advisers engaged within the various credit score enterprise.
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SOURCE First Eagle Investments
