M&A - First Eagle Private Credit Fund

Form Type: PRE 14A

Filing Date: 2025-05-30

Corporate Action: Merger

Type: New

Accession Number: 000119312525131976

Filing Summary: A Special Meeting of Shareholders for First Eagle Private Credit Fund is scheduled for June 27, 2025, to vote on two proposals related to a prospective change in ownership of the parent company of First Eagle Investment Management (FEIM) and First Eagle Alternative Credit (FEAC). The proposals include approval of a new advisory agreement and a new subadvisory agreement to maintain existing management structures after the planned majority investment by Genstar Capital in First Eagle Holdings. The transaction involves the buyout of existing interests held by Blackstone Inc. and Corsair Capital LLC. Shareholders are assured there will be no changes in investment personnel or advisory fees, nor in the Fund’s investment objectives or policies. The cost of the proxy solicitation will be borne by FEIM, not the Fund. The document emphasizes the importance of shareholder votes to facilitate continuity in management services and outlines voting methods and revocation procedures.

Form Type: 8-K

Filing Date: 2025-03-07

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525049922

Filing Summary: On March 3, 2025, First Eagle Holdings, Inc. announced a definitive agreement for funds managed by Genstar Capital to make a majority investment in First Eagle Holdings, Inc. This investment involves the buyout of interests currently held by funds indirectly controlled by Blackstone Inc. and Corsair Capital LLC, alongside certain related co-investors. The completion of the transaction is anticipated in the second half of 2025, contingent on customary closing conditions including necessary client consents and regulatory approvals. The transaction is classified as an 'assignment' of the current investment advisory agreements, leading to their automatic termination, with a proposal for new advisory agreements planned for Board and shareholder approval. The transaction is not expected to change the portfolio management or investment objectives of the Fund.