Chris Flynn, president of First Eagle Alternative Credit, plans to leave the firm in early 2025. Effective immediately, Flynn will share the title of co-president with Jim Fellows, the firm’s chief investment officer.
First Eagle Investment Management launched First Eagle Credit Opportunities Fund, a multi-sector portfolio investing primarily in private and public credit assets, including direct lending, middle market “club” loans, syndicated bank loans and high yield bonds.
THL Credit will change its name to First Eagle Alternative Capital BDC in connection with the approval of a new advisory agreement between the company and First Eagle Alternative Credit, which was formerly known as THL Credit Advisors.
First Eagle Alternative Credit closed its fourth middle-market direct lending fund, THL Credit Direct Lending Fund IV with $782 million of available investment capacity including leverage.
A&R Logistics, a portfolio company of Wind Point Partners, has acquired Blue Water Plastic Transport.
Antares Capital, Bain Capital, First Eagle Investment Management, and Varagon Capital agreed to provide debt financing to Wind Point Partners’ acquisition of A&R Logistics.
First Eagle Investment Management will acquire NewStar Financial. In a related transaction, NewStar will sell a portfolio of assets, including $2.4 billion of middle-market loans, to a fund sponsored by GSO Capital Partners. To support the transaction, Wells Fargo is providing an up to $1.85 billion ABL revolver to GSO.