Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:First Eagle Sells Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 20, 2015

First Eagle Sells

Reported by Neil Anderson, Managing Editor

A pair of private private equity shops are buying a majority stake in First Eagle Investment Management [profile], through First Eagle's Arnhold and S. Bleichroeder Holdings Inc. holding company.

Bridget Macaskill
First Eagle Investment Management
President, CEO
Today the New York City-based mutual fund shop unveiled a deal by Blackstone and Corsair Capital, which values all of First Eagle at about $4 billion (four percent of First Eagle's roughly $100 billion in AUM). Another private equity shop, TA Associates, owns about 25 percent of First Eagle and will divest completely as part of the deal. Yet the founding Arnhold family (which had a majority stake in First Eagle) and First Eagle's leadership team will still be "substantial shareholders" once the deal closes, expected in Q4 2015.

John Arnhold
First Eagle Investment Management
Chairman, Chief Investment Officer
The deal is in line with reports that surfaced this spring about First Eagle, Blackstone, and Corsair working on a deal.

Bank of America Merrill Lynch advised First Eagle on the deal, and HSBC and Morgan Stanley advised Blackstone and Corsair.

Bridget Macaskill praises Blackstone and Corsair as "two successful long-term investors with whom First Eagle shares many cultural and philosophical beliefs."

D.T. Ignacio Jayanti
Corsair Capital
Managin Partner
"We have achieved our primary goals of remaining independent, preserving our investment-centric culture, and increasing employee ownership, while addressing the liquidity needs of current shareholders," Macaskill states.

John Arnhold, chairman and chief investment officer of First Eagle, lauds the deal as providing "long-term stability," for First Eagle and its clients. The Arnhold family will remain on First Eagle's board of directors.

Joseph Baratta
Blackstone
Global Head of Private Equity
"We look forward to maintaining our involvement with First Eagle and remaining one of the firm's largest clients," Arnhold states.

D.T. Ignacio Jayanti, managing partner at Corsair, praises First Eagle as "a premier specialist active asset management firm, and Blackstone global private equity chief Joseph Baratta describes First Eagle as "a first class asset management firm with excellent investment talent."

"Blackstone understands and respects First Eagle's culture and investment philosophy, and we recognize that preserving these is critical to the long-term success of the Firm," Baratta states. "We will support First Eagle's management and employees as they seek to provide outstanding investment performance and service to their clients.

Check back for more updates as this story develops. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


    Sorry, no records in the database matched your search parameters. Clich back and try again.



  1. Nicsa webinar - New research by Alex Edmans and the Diversity Project - The Power of diverse thinking: How the best teams make decisions, July 1
  2. MFDF Director Discussion Series - Open Forum, July 9
  3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  8. MFDF webinar - ETF Conversions, July 17
  9. MFDF Director Discussion Series - Open Forum (New York), July 22
  10. MFDF Ask Anything webinar - AI Edition, July 24
  11. MFDF webinar - Use of Derivatives by RICs, July 29
  12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  13. Samfund Soiree Boston 2025, August 21
  14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  15. ICI ETF Conference, Sep 8-10
  16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  24. 10th annual Fuse Forum, October 8
  25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  26. 2025 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use