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Rating:Sealing a Deal Boosts a Gotham Firm's AUM to $121B Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 16, 2022

Sealing a Deal Boosts a Gotham Firm's AUM to $121B

Reported by Neil Anderson, Managing Editor

A Gotham fund firm has closed on its planned purchase of an institutional alternative fixed income asset manager, boosting AUM to about $121.3 billion (on a pro forma basis) as of June 30.

Mehdi Asif Mahmud
First Eagle Investment Management, LLC
President, CEO
On August 1, Mehdi Mahmud, president and CEO of First Eagle Investments [profile], confirmed that the New York City-based firm has completed its acquisition of Napier Park Global Capital. Napier Park (which has offices in New York, London, and Switzerland) is now an autonomous First Eagle unit known as "Napier Park, a First Eagle Investments," with former CEO Jim O'Brien and former chief investment officer Jon Dorfman at the helm as managing principals, as expected. The duo report to Mahmud.

The deal was first unveiled on March 30.

Napier Park had about $19.5 billion in AUM as of June 30, while First Eagle had about $101.8 billion, so the deal boosts First Eagle's AUM by about 19.2 percent. First Eagle also now has $40.8 billion in alternative credit assets (as of June 30, on a pro forma basis).

Mahmud praises the Napier Park team for building "a distinguish track record of solving sophisticated institutional investors' most critical portfolio needs." And perhaps the First Eagle folks will help bring Napier Park's institutional offerings to advisors and their clients.

"First Eagle's robust global institutional distribution structure will bolster the momentum we've built over the years and help us connect with a broader base of investors as we continue our efforts to deliver incremental returns from credit and liquidity risk premia," Dorfman states. 

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