First Eagle Private Credit, LLC (Boston)

Name: First Eagle Private Credit, LLC
Address: 500 Boylston St., Boston, MA, 02116
Telephone: 617-848-2500

First Eagle Private Credit, LLC is a large advisory firm based in Boston. It manages $4.65 billion of regulatory assets for 15 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Connecticut, Massachusetts, and New York.

First Eagle Private Credit provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

First Eagle Private Credit: assets under management

The assets under management (AUM) of First Eagle Private Credit, LLC is $4.65 billion. The firm's AUM has grown by 0% since the beginning of its operation, and $1.66 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $4.64 billion in discretionary accounts and $6.21 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $357.05 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.11 million.

First Eagle Private Credit has custody of $274.41 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay First Eagle Private Credit, LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients First Eagle Private Credit serves?

The only and largest group of clients of First Eagle Private Credit is pooled investment vehicles with 15 clients and $4.65 billion of assets under management. Among the 12 most similar advisory firms, First Eagle Private Credit has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $4.65 billion for 15 clients. 40% of the firm’s clients are foreign persons or businesses.

First Eagle Private Credit also advises several private funds. Namely, one hedge fund, two other private funds, and eleven securitized asset funds. The minimum investment commitment required of non-related persons ranges from $25,000 to $25,000,000.

Careers at First Eagle Private Credit, LLC

The company employs 62 people that are either part- or full-time employees. 35 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Daniel Douglas Mccready has served as the Chief Investment Officer since 1 Jul 2016. Llc First Eagle Investment Management joined the executive team most recently as the Sole And Managing Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Patrick Francis Mcauliffe	Managing director	1 May 2012	Other	6178809
Daniel Douglas Mccready	Chief investment officer	1 Jul 2016	Other	1952451
Brian Francis Forde	Chief compliance officer	1 May 2017	Other	6572646
Timothy John Conway	Managing director	1 Dec 2017	Other	2073484
Michael Joseph Eisenstein	Managing director	1 Dec 2017	Other	6772169
Katherine Lynn Perkins	Chief financial officer and treasurer	1 Dec 2017	Other	1496363
Mehdi Asif Mahmud	Chief executive officer and president	1 Dec 2017	Other	3041637
David Oconnor	Secretary and general counsel	1 Dec 2017	Other	5077118
Joseph Robert Sileo	Head - capital markets	1 May 2018	Other	4271490
Llc First Eagle Investment Management	Sole and managing member	1 Oct 2018	75% - 100%	108260

Indirect Owners

The SEC currently registers 23 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. First Eagle Holdings	Managing member and parent company	1 Mar 1987	75% - 100%	13-4959915
Corsair Iv Management L.P.	General partner	1 May 2010	Other	98-1088975
Ltd. Corsair Capital Group	General partner	1 Dec 2010	Other	foreign
Dharma Teja Ignacio Jayanti	Shareholder	1 Dec 2010	50% - 75%	2633264
Evan Mervyn Davies	Limited partner	1 Mar 2012	25% - 50%	6050243
Bcp Cc Holdings L.P.	Shareholder	1 Dec 2015	50% - 75%	47-5444885
Blackstone Capital Partners Vi L.P.	Limited partner	1 Dec 2015	25% - 50%	26-2855384
Corsair Mentor L.P.	Limited partner	1 Dec 2015	25% - 50%	98-1253488
Corsair Mentor Investors L.P.	Limited partner	1 Dec 2015	75% - 100%	98-1253354
Corsair Mentor Management L.P.	General partner	1 Dec 2015	Other	98-1253338
Corsair Capital Llc	General partner	1 Dec 2015	Other	137887
Blackstone Management Associates Vi Llc	General partner	1 Dec 2015	Other	26-1971725
Blackstone Holdings Iii Gp Management Llc	General partner	1 Dec 2015	Other	26-0269478
Bma Vi Llc	Sole member	1 Dec 2015	75% - 100%	26-1971291
Blackstone Holdings Iii L.P.	Managing member	1 Dec 2015	50% - 75%	26-0450202
Blackstone Holdings Iii Gp L.P.	General partner	1 Dec 2015	Other	26-0288893
The Blackstone Group L.P.	Sole member	1 Dec 2015	75% - 100%	20-8875684
Bcp Cc Holdings Gp L.L.C.	General partner	1 Dec 2015	Other	47-5459605
Corsair Iv Financial Services Capital Partners L.P.	Member	1 Dec 2015	50% - 75%	27-2448789
L.P. Corsair Partners Mentor Management	General partner	1 Dec 2015	Other	98-1289747
L.P. Corsair Capital	Sole member	1 Jan 2018	75% - 100%	foreign
Vayu Investors Llc	Limited partner	1 Jan 2018	25% - 50%	82-4399914
Dharma Teja Ignacio Jayanti	Sole member	1 Jan 2018	75% - 100%	2633264

Based in Boston

The principal office where First Eagle Private Credit, LLC performs its advisory services is located at 500 Boylston St., Boston, MA 02116, which is also the mailing address of the firm. An additional office of the firm is in Norwalk, CT. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-848-2500 or by fax 617-848-4300. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at feim.com.