The First Eagle family of funds, including Global Fund, Overseas Fund, U.S. Value Fund, Gold Fund and First Eagle Fund of America follows a value-oriented investment philosophy. Each fund focuses on discovering well-managed, undervalued or overlooked companies, as well as special situations.
On July 20, 2015, First Eagle Investment Management unveiled a deal that put a majority stake in the hands of private equity shops Blackstone and Corsair Capital and their clients. The deal closed on December 1, 2015.
Early History First Eagle Investment Management traces its roots back to the 19th century with the founding of S. Bleichroeder in Berlin in 1803 and Arnhold Brothers in Dresden in 1864. Arnhold acquired S. Bleichroeder in 1931. In 1937, the company moved its activities to New York under the name Arnhold and S. Bleichroeder.
In 1987, Arnhold opened First Eagle Fund of America, its first U.S.-registered mutual fund. Its second fund was the First Eagle International Fund
SoGen Funds Purchase In 1999, Arnhold purchased the SoGen Funds from Societe Generale Asset Management. SoGen Funds had launched in 1970 with SoGen International and later added SoGen Gold and SoGen Overseas in 1993. The purchase transformed Arnhold and S. Bleichroeder into a mutual fund-focused company. They initially renamed the four SoGen funds the First Eagle SoGen Funds.
In 2002, the firm changed the funds' name to First Eagle Funds.
In December 2009, Arnold and S. Bleichroeder Advisers rechristened itself First Eagle Investment Management, LLC to reflect its focus on asset management.
Jean-Marie Eveillard The SoGen purchase was especially important for First Eagle Funds because it brought investing legend Jean-Marie Eveillard, who had been with Societe Generale since 1962 and portfolio manager of four funds, to the A&SB investing team. He had managed the SoGen International Fund (First Eagle Global Fund) since 1979, and the First Eagle Overseas Fund and First Eagle Gold Fund since their inception in 1993. Post-deal, Eveillard also became portfolio manager of the First Eagle U.S. Value Fund at its inception in 2001.
In December 2004, at the age of 67, Eveillard decided to retire from the company. He turned over management of his funds to Charles de Vaulx, his long-time protege and a co-manager of his funds since 2001. de Vaulx suddenly left First Eagle in March 2007 (became partner and portfolio manager with International Value Advisers in May 2008).
de Vaulx's departure prompted Eveillard to come out of retirement and resume his role as portfolio manager of the First Eagle Funds. Eveillard agreed to lead the portfolio management team and assist in overseeing a succession plan and has acted a senior advisor since March 2009.
Mehdi Mahmud President, CEO, First Eagle Investment Management
Bridget Macaskill Senior Adviser, First Eagle Investment Management
John Arnhold Chairman, First Eagle Investment Management
Jean-Marie Eveillard Senior Advisor, First Eagle Funds
Robert Bruno Head of Distribution, First Eagle Funds, SVP, First Eagle Investment Management, Arnhold and S. Bleichroder, Inc.
Matthew McLennan Portfolio Manager, First Eagle Investment Management
Bruce Greenwald Senior Advisor, First Eagle Investment Management
Joe Lee Head of Retirement Platforms and Strategy, First Eagle Investment Management