First Eagle Alternative Credit, an alternative credit manager, closed Lake Shore MM CLO III at $318 million, marking the company’s third collateralized loan obligation that includes middle market leveraged loans. Citi served as lead manager, structuring agent and bookrunner.
First Eagle Alternative Credit received ‘A’ grades from the UN Principles for Responsible Investment (PRI) for its overarching approach to ESG strategy and governance and for ESG integration across all modules relevant to its investment activities.
First Eagle Alternative Credit appointed Michelle Handy, a managing director and head of portfolio and underwriting for the firm’s direct lending platform, to its direct lending investment committee.
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 added asset-based lending solutions to its direct lending platform and appointed industry veterans Larry Klaff and Lisa Galeota to lead the initiative. Klaff and Galeota joined First Eagle from Gordon Brothers Finance Company.
The shareholders of THL Credit, a direct lender to middle market companies, approved entry into an investment management agreement with First Eagle Alternative Credit, formerly known as THL Credit Advisors.