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. Fellows will become president upon Flynn’s departure while continuing to serve as CIO. Both Flynn and Fellows will now report to Mehdi Mahmud, president and CEO of First Eagle Investment Management.

“Chris’ leadership over the years has transformed FEAC into a premier alternative credit platform, and we are grateful for his longstanding dedication to the business,” Mahmud said. “Among Chris’ many accomplishments was developing and maintaining a deep bench of alternative investment professionals in what is still a relatively nascent corner of the capital markets, and the resulting senior leadership team — which includes new co-president Jim Fellows — leaves FEAC well-positioned to follow in the successful path Chris established.”

Fellows has been with First Eagle Alternative Credit and its predecessor companies for 20 of his more than 30 years in the alternative investment industry. He most recently served as the firm’s CIO and head of tradable credit. He is a member of First Eagle Alternative Credit’s global investment committee and the investment committees of both its tradable credit and direct lending platforms.

“Working side-by-side with Jim for well over a decade, I have been continually impressed with his credit acumen, commitment to clients and dynamic leadership,” Flynn said. “With the support of our team of senior professionals, I am confident he will thrive in the role of president to the ongoing benefit of First Eagle Alternative Credit and our investors.”

First Eagle Alternative Credit’s leadership transition plan also includes several other senior-level promotions, which are effective immediately.

  • Michelle Handy, deputy chief investment officer of direct lending, was promoted to chief investment officer of direct lending.
  • Bob Hickey, deputy chief investment officer of tradable credit, was promoted to chief investment officer of tradable credit.
  • Brian Murphy, head of capital markets, and Garrett Stephen, co-head of origination and structuring for direct lending, were promoted to co-heads of origination. Murphy also will retain his current title of head of capital markets.
  • Ed Giordano, CFO of First Eagle Alternative Credit, added the title of chief operating officer.

In conjunction with these promotions, Handy, Murphy and Stephen joined the firm’s global investment committee alongside Flynn, Fellows, Hickey and Mike Herzig, head of business development.