Opalesque Industry Update – Napier Park Global Capital has been acquired by First Eagle Investments. Napier Park and First Eagle have approximately $19.5 billion and $101.8 billion in assets under management, respectively. The transaction closed on August 1, 2022.
Napier Park is a leading alternative credit manager with approximately $19.5 billion in assets under management as of June 30, 2022, across credit funds, CLOs, and real assets predominantly within the U.S. and European markets. Napier Park differentiates itself through its decades of specialized credit expertise, world-class infrastructure, and creativity, providing effective solutions to a broad range of institutional clients. Napier Park has offices in New York, London, and Switzerland.
First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $101.8 billion in assets under management as of June 30, 2022. Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental, and benchmark-agnostic investing, with a strong emphasis on downside mitigation. With a heritage dating back to 1864, First Eagle Investments has helped its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles-a tradition that is central to its mission today. The firm’s investment capabilities include equity, fixed income, alternative credit, and multi-asset strategies.
As an autonomous, wholly owned unit of First Eagle Investments, Napier Park will go to market as “Napier Park, a First Eagle Investments Company” and maintain its investment approach, business focus, and client service. No changes will be made to Napier Park’s investment philosophy or processes as a result of the acquisition, nor are any personnel changes expected. Key Napier Park employees will sign long-term agreements and continue in their current roles.
The transaction complements First Eagle Investments’ multi-asset lineup and enhances capabilities offered to clients, including opportunistic credit. The transaction has no impact on First Eagle Alternative Credit, which will continue under its current leadership and operate independently from Napier Park.
Houlihan Lokey, a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory served as the exclusive financial advisor to Napier Park.
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