First Eagle swoops in to buy THL Credit

The transaction is just the latest in a string of mergers that are slowly reshaping private credit.

In the latest consolidation move in the industry, First Eagle Investment Management is boosting its private credit portfolio with the purchase of THL Credit, the two firms announced late Sunday night.

New York-based First Eagle, which will boost its credit assets under management to $23 billion following the transaction’s completion, has agreed to purchase $40 million worth of newly-issued stock of THL Credit’s BDC.

Share this