First Eagle Investments
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| Company type | Private |
|---|---|
| Industry | Investment Management |
| Founded | 1864 |
| Headquarters | 1345 Avenue of the Americas New York City, U.S. |
Key people | Mehdi Mahmud, President and Chief Executive Officer |
Number of employees | 427 (2021) |
| Website | www |
First Eagle Investments is a US investment management company based in New York City that is an adviser to the First Eagle Funds. The company manages a number of investment strategies and Investment funds including the First Eagle Global Fund, First Eagle Overseas Fund and First Eagle Fund of America.
History
[edit]First Eagle Investments traces its heritage its 1864 founding in Dresden, Germany.[1] It began as a family owned bank, Gebr. Arnhold (Arnhold Brothers) that mainly financed local businesses. In 1928, it purchased Adler Bank in Switzerland, which would contribute to its future name as "Adler" was German for "Eagle".[2] In 1931, Hans Arnhold combined his firm with S. Bleichröder to form Arnhold and S. Bleichroeder.[2] The company leadership fled Nazi Germany in the late 1930s to New York City and in 1937, began operations on Wall Street.[1][2]
The firm launched its first offshore fund, First Eagle Fund N.V in 1967, followed by its first US-registered mutual fund, First Eagle Fund of America in 1987 whose initial portfolio manager was Michael Kellen.
In 1999, Arnhold and S. Bleichroeder acquired the majority share of Société Générale Asset Management, a subsidiary of the French bank Société Générale whose investment team managed global value equity strategies. At that time, the firm became the investment adviser to the First Eagle Funds, including the SocGen International Fund, later named the First Eagle Global Fund. The team managing these strategies became First Eagle's Global Value Team.
In 2002 the firm exited investment banking and global businesses to focus exclusively on investment management.[citation needed]
In 2007, private equity TA Associates purchased a minority stake from the Arnhold family.[1] Two years later, Arnhold and S. Bleichroeder changed its name to First Eagle Investment Management.[2] The company became fully-controlled by private equity in 2015 after Blackstone Inc. and Corsair obtained a majority stake.[1]
First Eagle Investment Management added alternative credit capabilities via the acquisitions of NewStar Financial in 2017, and THL Credit in 2020, subsequently renamed as First Eagle Alternative Credit.[citation needed]
As of 2020 the firm’s investment capabilities focus on equities, fixed income, multi-asset and alternative credit. Key investment strategies include: Global Value, International Value, U.S. Value, U.S. Dividend Equity, Global Income, Gold, High Yield, Broadly Syndicated Loans and Direct Lending.[citation needed]
In February 2025, Blackstone group put FEIM up for sale, seeking to take advantage of recent takeover trends to profit from their $4 billion purchase of the company back in 2015. The company's assets increased by about 50% since the 2015 purchase.[1]
Funds
[edit]The First Eagle Global Value team manages seven mutual funds: First Eagle Global Fund, First Eagle Overseas Fund, First Eagle U.S. Value Fund, First Eagle Gold Fund, First Eagle Global Income Builder Fund, First Eagle High Yield Fund, First Eagle Fund of America and First Eagle Credit Opportunities Fund. The First Eagle Alternative Credit team manages First Eagle Alternative Capital BDC, Inc., and First Eagle Senior Loan Fund.[citation needed]