First Eagle Investments to acquire Napier Park Global Capital
Napier, which will operate as a wholly-owned unit, will broaden First Eagle’s capabilities in the alternative credit market.
First Eagle Investments, a New York-based investment manager with $110 billion in assets, has agreed to acquire Napier Park Global Capital, a New York-based institutional alternative credit manager with approximately $18.7 billion in assets under management.
The firm will operate as an autonomous, wholly-owned unit of First Eagle Investments and use the name “Napier Park, a First Eagle Investments Company.” It will maintain its investment approach, business focus and client service, First Eagle said in a release, and will have no impact on First Eagle Alternative Credit, which will continue under its current leadership and operate independently from Napier Park.
Jim O’Brien and Jon Dorfman — who serve as chief executive officer and chief investment officer, respectively — will continue to run Napier Park as managing principals. Key Napier Park employees will sign long-term agreements and continue in their current roles.
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