First Eagle Investment Management: Is It Worthy?

First Eagle Investment Management is a US investment management company based in New York City. The company is a private and independent asset management firm with a heritage dating back to 1864. First Eagle offers a wide range of investment strategies and funds, including equity, fixed income, alternative credit and real assets. As of 2024, the firm manages approximately $138 billion in assets on behalf of retail clients and institutions, and has 614 employees located in 9 offices globally. First Eagle Investment Management is committed to providing prudent stewardship of client assets and focuses on active, fundamental and benchmark-agnostic investing, with a strong focus on downside mitigation.

First Eagle Investment Management is an independent, privately-owned investment management firm

First Eagle Investment Management is headquartered in New York and has approximately $109 billion in assets under management. The firm is dedicated to providing prudent stewardship of client assets and focuses on active, fundamental and benchmark-agnostic investing, with a strong focus on downside mitigation.

First Eagle Investment Management offers a wide range of investment strategies and funds, including equities, fixed income, alternative credit and real assets. The firm has five investment teams: Global Value, Small Cap, High Yield Municipal Credit, First Eagle Alternative Credit and Napier Park.

First Eagle Investment Management is committed to providing a high-performance culture that attracts, develops and retains a talented, inclusive workforce. The firm offers competitive benefits such as generous vacation time, free lunch, and competitive healthcare and dental plans.

The company is headquartered in New York City and has a heritage that dates back to 1864

First Eagle Investment Management is headquartered in New York City and has a rich history that dates back to 1864. The company's heritage can be traced to a family-owned bank called Gebr. Arnhold (Arnhold Brothers), founded in 1864 in Dresden, Germany. Over the years, the company has evolved and expanded, becoming a prominent player in the investment management industry.

In 1931, Hans Arnhold merged his firm with S. Bleichröder to establish Arnhold and S. Bleichroeder. Six years later, in 1937, Hans Arnhold, as Chairman, and his son-in-law, Stephen Kellen, as CEO, restarted the company's operations in New York City, where it is still headquartered today. This move marked a significant step in the company's journey and solidified its presence in the United States.

First Eagle Investment Management has a strong presence in the investment management industry, offering a diverse range of investment strategies and funds. The company's investment capabilities include equities, fixed income, alternative credit, and real assets. They serve both retail clients and institutions, managing approximately $138 billion in assets as of March 2024.

The company has a global reach, with 614 employees located in nine offices around the world. Their commitment to their clients is evident through their focus on active, fundamental, and benchmark-agnostic investing, always prioritising downside mitigation. First Eagle Investment Management's long history and expertise make them a trusted name in the industry.

First Eagle offers a wide range of investment strategies and funds

First Eagle's five investment teams (Global Value, Small Cap, High Yield Municipal Credit, First Eagle Alternative Credit, and Napier Park) provide clients with a range of investment capabilities, including equity, fixed income, alternative credit, and real assets.

First Eagle's range of mutual funds includes:

• First Eagle Global Fund
• First Eagle Overseas Fund
• First Eagle U.S. Value Fund
• First Eagle Gold Fund
• First Eagle Global Income Builder Fund
• First Eagle Small Cap Opportunities Fund
• First Eagle High Yield Municipal Fund
• First Eagle Credit Opportunities Fund

The firm focuses on active, fundamental and benchmark-agnostic investing, with a strong focus on downside mitigation

First Eagle is an independent investment management firm that manages approximately $138 billion in assets (as of 3/31/24) on behalf of institutional and individual clients. The firm is dedicated to providing prudent stewardship of client assets and focuses on active, fundamental and benchmark-agnostic investing, with a strong focus on downside mitigation.

First Eagle's investment capabilities include equity, fixed income and multi-asset strategies. The firm offers a wide range of investment strategies and funds, with a heritage dating back to 1864.

First Eagle's approach to investing is underpinned by a set of core investment tenets:

• Fundamental bottom-up approaches: This means that First Eagle's investment decisions are based on a detailed analysis of individual securities, rather than broad economic or market trends. They focus on the underlying value of a company or asset, rather than its short-term market price.
• Absolute return orientation: The firm aims to generate positive returns regardless of the overall direction of the market. This means that they focus on generating absolute, rather than relative, returns.
• Macro awareness and insight: While First Eagle takes a bottom-up approach to investing, they also consider broader macroeconomic factors that may impact their investments. This includes things like interest rates, inflation, and global economic trends.
• High conviction threshold: First Eagle only invests in opportunities that meet their strict criteria and have a high probability of success. They are selective and disciplined in their investment approach.
• Resilient capital: The firm prioritises capital preservation and aims to protect their clients' capital from permanent impairment.

First Eagle's investment strategies are designed to provide clients with equity, fixed income, alternative credit, and real asset capabilities for their portfolios. These capabilities can be utilised on a standalone basis or through customised solutions tailored to specific client needs.

The firm has a strong focus on downside mitigation, which is reflected in their investment tenets and the types of investment strategies they offer.

First Eagle Investment Management has five investment teams: Global Value, Small Cap, High Yield Municipal Credit, First Eagle Alternative Credit, and Napier Park

First Eagle Investment Management is an investment management company based in New York City. It was founded in 1864 as a family-owned bank, Gebr. Arnhold (Arnhold Brothers) in Dresden, Germany. The company has since expanded and now has nine offices globally, with a total of 614 employees. As of March 2024, the firm manages approximately $138 billion in assets on behalf of retail clients and institutions.

First Eagle Investment Management offers a wide range of investment strategies and funds, including equity, fixed income, alternative credit, and real assets capabilities. The company has a long history in the industry and has deliberately sought to nurture an investment-led culture.

The Global Value team is the keystone of the firm, managing USD 82 billion of the firm's total USD 124 billion in assets under management as of December 2022. The team is led by Matt McLennan and Kimball Booker and focuses on investing across equities, fixed income, and real assets.

The Small Cap team was established in 2021 under the leadership of Bill Hench, who joined from Royce Investment Partners.

The High Yield Municipal Credit team was set up in 2023, led by John Miller, who previously spent almost three decades at Nuveen Investments.

First Eagle Alternative Credit was added to the company's capabilities through the acquisitions of NewStar Financial in 2017 and THL Credit in 2020.

Napier Park Global Capital, a leading institutional manager of real assets and alternative credit strategies, was acquired in 2022. This acquisition transformed First Eagle into a formidable player in the alternative space globally.

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