First Eagle Investment Management to Acquire THL Credit
Posted on 12/09/2019
First Eagle Investment Management, LLC signed a deal to buy THL Credit Advisors LLC, an alternative credit manager with approximately US$ 17 billion in assets under management as of September 30, 2019. First Eagle is an independent, privately owned investment firm with approximately US$ 99 billion in assets under management as of September 30, 2019.
Established in 2007 as the credit affiliate of Thomas H. Lee Partners, L.P., THL Credit is headquartered in Boston and has its primary credit underwriting office in Chicago. THL Credit specializes in the management of tradable credit and direct lending to middle-market companies, made available to sophisticated investors through public and private vehicles, separately managed accounts and commingled funds, including the Wind River and Lake Shore collateralized loan obligation (CLO) programs.
In December 2015, private equity funds managed by Blackstone Capital Partners (BCP), the private equity arm of Blackstone Group, and Corsair Capital, as well as a number of institutions and high-net-worth family offices acquired an equity stake in First Eagle Investment Management.
BofA Securities acted as financial advisor to First Eagle, and Goodwin Procter was its legal counsel. Sandler O’Neill + Partners, LP acted as THL Credit’s financial advisor, and legal counsel was provided by Weil, Gotshal & Manges LLP and Winston & Strawn LLP.
On April 18, 2012, THL Credit Advisors acquired Chicago-based McDonnell Investment Management, LLC’s Alternative Credit Strategies group.
Keywords: Bank of America.