First Eagle Credit Opportunities Fund

Thursday, 11 July 2024

AUM as of October 31, 2022. First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $101. Private credit involves an investment in non-publicly traded securities which are subject to illiquidity risk. In 2020, First Eagle expanded its offering through the acquisition of THL, which is the private credit arm of Thomas H. D. Partners. To continue, please click the box below to let us know you're not a robot. Private credit can also be referred to as "direct lending" or "private lending". To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

First Eagle Credit Opportunities Fund Profile

Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. Launched in September 2020, the First Eagle interval fund has seen its assets balloon to $390 million from $40 million a year ago, when it temporarily waived the 1. These bonds have a higher risk of default or other adverse credit events, but offer higher yields than investment-grade bonds in order to compensate for the increased risk. Interval funds offer quarterly liquidity of up to 5% of the outstanding shares, meaning it would be difficult to redeem a client's entire investment all at once, especially if there are a lot of investors seeking liquidity.

Private credit is an asset defined by non-bank lending where the debt is not issued or traded on the public markets. With a 2021 total return of nearly 11%, including a 7% income yield, the First Eagle Credit Opportunities Fund is likely to continue gaining appeal among financial advisers working with clients hungry for strategies that fit the income side of the portfolio. Company Information. Fidelity Alternative Investments Program. "Through the Credit Opportunities Fund, we are pleased to leverage our team's extensive experience across market cycles to capitalize on these opportunities as they emerge. In addition to the strong yield, which is paid out in the form of monthly dividends, and a weighted average duration of 0. 1 billion as of that same date. ) 2 trillion market today that is expected to grow to more than $2. The First Eagle Credit Opportunities fund is one of only three interval funds offered to RIAs on the Schwab Institutional No Transaction Fee (iNTF) platform, and the only interval fund in this program that provides access to private credit. First Eagle Investments announced that the First Eagle Credit Opportunities Fund had recently eclipsed $500 million in managed assets. James R. Fellows (2), Christopher Flynn (2), Michelle Handy (2), 3 others. There are no holdings to display. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice.

First Eagle Credit Opportunities Fund Lp

Robo Investing Plus Advice. Investments in loans potentially expose the Fund to the credit risk of the underlying borrower, and in certain cases, of the financial institution. A link to the Moody's presale report can be found... November 07, 2019Head of structured credit at Napier Park Global Capital, Serhan Secmen, will be spending 21 November sleeping out. Serhan discussed his views on the CLO market, including the often misperceived correlation between the CLO arbitrage at issuance and the ultimate return to equity investors. All rights reserved. Managers were desperately trying to cut losses and... November 06, 2014Regatta V Funding Ltd, a cash flow collateralized loan obligation managed by Napier Park Global Capital, was launched on November 6, 2014. The yield represents a distribution and does not represent the total return of the Fund. The fund is part of the lineup from First Eagle Investments, a $109 billion asset management firm. The Napier Park strategy invests across the junior CLO space, leveraged loans and high yield.

Portfolios that invest in private credit may be leveraged and may engage in speculative investment practices that increase the risk of investment loss. First Eagle Investment Management, LLC. First Eagle Alternative Credit is the brand name for one of the subsidiary investment advisers engaged in the alternative credit business. The fund seeks to raise $2 billion to invest primarily in private and public credit assets—including direct lending, middle-market "club" loans, syndicated bank loans and high yield bonds. Because the distribution yield is annualized from a single month's distribution, no investor actually received the yield in a given year.

First Eagle Credit Opportunities Fund Price Today

Robert Hickey, one of six managers working on the fund, said a hypothetical example of an investment on the opportunistic side would be a bank like JPMorgan lending $1 billion to company like Boeing and then spreading its risk exposure by syndicating off most of the loan to other investors. Read our editorial policy to learn more about our process. In the world of interval funds, which are named for their reduced liquidity compared to mutual funds, this one is relatively straight forward, and is accessible to retail class investors with a $2, 500 minimum investment. FOR PERIOD JULY 1, 2021 TO JUNE 30, 2022. While the strategy includes regularly moving parts to capture yield, especially in the current rising interest-rate environment, the portfolio is broadly divided into two main categories: opportunistic credit, which often includes purchasing chunks of syndicated loans, and private credit, where First Eagle is the direct lender and underwriter. Retirement Distributions. As of August 31, 2022, the Fund's distribution yield was 6.

2023 Oscars: A list of all the winners, as 'Everything Everywhere' dominates. Floating interest rate, also known as a variable or adjustable rate, refers to any type of debt instrument, such as a loan, bond, mortgage, or credit, that does not have a fixed rate of interest over the life of the instrument. Napier Park partly credits its 2020 high performance to early and active de-risking, raising cash and hedging pre-Covid. Investment Company Act file number 811-23592. U. S., South Korea begin drills after North Korean submarine missile test. Net proceeds from the issuance of notes will be used to purchase a $475 million portfolio of predominately first lien senior secured loans. February 06, 2023Managing Principal Jim O'Brien and Managing Principal and Chief Investment Officer Jon Dorfman share their initial experiences operating as part of First Eagle and their thoughts on alternative credit markets in... August 01, 2022First Eagle Investments ("First Eagle") today announced that it has completed the previously announced acquisition of leading alternative credit manager Napier Park Global Capital ("Napier Park"). 3 CFP / IWI / CFA CE credits. Investments in debt securities and other obligations of companies that are experiencing significant financial or business distress involve a substantial degree of risk, including a material risk that the issuer will default on the obligations or enter bankruptcy. The Fidelity Advantage. Security & Protection. Officials at the pension fund have informed Creditflux that Napier Park has been awarded $300 million for what they describe as a "specialised and complex" credit strategy to invest in "hedged credit". Is this happening to you frequently? "I have not encountered anyone who sees rates going anywhere but up in next 12 to 18 months, " Hickey said.

We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. 52 Week Avg Return N/A. First Eagle Investment Management LLC, a privately-owned investment management firm with approximately $101 billion in assets under management, has launched the First Eagle Credit Opportunities Fund (Class A: FECAX, Class I: FECRX). An investment in the Fund is not suitable for investors who need certainty about their ability to access all of the money they invest in the short term. Although the fee cut, which ended Sunday, surely helped draw assets, the flows were also boosted by the fund's placement on the major brokerage platforms. Friday, May 6, 2022 • 12:00pm ET. The information in this piece is not intended to provide and should not be relied on for accounting, legal, and tax advice. Date of reporting period: July 1, 2021 – June 30, 2022. The level of analytical sophistication, both financial and legal, necessary for successful investment in distressed assets is unusually high. They began to buy and extract liquidity premium at the market bottom and captured multiple legs of the recovery by continually rotating into lagging assets as the recovery gained pace.

Investors should consider investment objectives, risks, charges and expenses carefully before investing. We hear his thoughts on the current market volatility and his insight into potential future... March 30, 2022First Eagle Investments ("First Eagle") today announced a definitive agreement to acquire Napier Park Global Capital ("Napier Park"), a leading alternative credit manager with approximately $18. The Fund may not be able to pay distributions or may have to reduce distribution levels if the income and/or dividends the Fund receives from its investments decline. 7 billion in assets under management as of December 31, 2021, predominantly for institutions through credit funds, US and European collateralized loan obligations, and real... March 07, 2022Napier Park's Jon Dorfman, CIO, and Jim O'Brien, CEO, spoke to Bloomberg's Lisa Lee covering their current outlook and positioning in light of recent market volatility. Latest News All Times Eastern. For inquiries related to this message please contact our support team and provide the reference ID below. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC and its representatives do not determine whether the investment is in the best interests of, or is suitable for, the investor. Data provided by Nasdaq Data Link, a premier source for financial, economic and alternative datasets.