FIRST EAGLE ALTERNATIVE CREDIT, LLC
FIRST EAGLE ALTERNATIVE CREDIT, LLC is a Series C+ and buyout fund in the US writing $25M–$250M checks into Fintech and credit.
- Stages
- Series C+, buyout
- Sectors
- Fintech, credit
- Check size
- $25M–$250M
- Invests in
- US-wide
- Actively investing
- Yes
- Founded
- 2007
- Assets under management
- $21B
Thesis
First Eagle Alternative Credit (FEAC) is a multi-strategy alternative credit investment manager, a subsidiary of First Eagle Investments. The firm specializes in direct lending and asset-based lending (ABL), primarily targeting private equity-backed, lower to core middle-market companies in the US with an EBITDA range of $5 million to $50 million. FEAC's strategy emphasizes originating senior financing, often first-lien secured loans, through an industry specialist model and participating in middle-market 'club' loans. They also identify ABL as a flexible, 'all-weather' option for asset-rich but cash-constrained companies. FEAC incorporates ESG considerations aligned with UNPRI principles. Their typical hold size for senior financing ranges from $25 million to $125 million, with potential up to $250 million. The firm has a history of closing direct lending funds, with its fifth fund exceeding $1 billion in capital. FEAC was founded in 2007 as THL Credit Advisors LLC and operates under the legal name First Eagle Alternative Credit, LLC, with headquarters in New York, NY, and a significant presence in Boston, MA.
Common questions
Does FIRST EAGLE ALTERNATIVE CREDIT, LLC invest at the Series C+ stage?
Yes. FIRST EAGLE ALTERNATIVE CREDIT, LLC lists Series C+ and buyout among the stages it invests in.
What check size does FIRST EAGLE ALTERNATIVE CREDIT, LLC write?
FIRST EAGLE ALTERNATIVE CREDIT, LLC writes $25M–$250M checks.
Where does FIRST EAGLE ALTERNATIVE CREDIT, LLC invest?
FIRST EAGLE ALTERNATIVE CREDIT, LLC invests in the US.