Jul 20, 2015

First Eagle Announces Significant Long-Term Investment from Blackstone and Corsair Capital

First Eagle Investment Management (“First Eagle” or the “Firm”) today announced a definitive agreement under which a majority long-term investment in First Eagle would be made by private equity funds managed by Blackstone (NYSE:BX) and Corsair Capital (“Corsair”) as well as clients of the two firms. The investment, which reflects a total enterprise value of approximately $4 billion, is designed to ensure that First Eagle will continue to operate independently and to maintain its investment-centric culture. Additionally, as a result of the transaction, First Eagle employees will have an opportunity to meaningfully increase their equity ownership in the Firm.  The investment is being made through First Eagle’s holding company, Arnhold and S. Bleichroeder Holdings Inc. The transaction includes the sale by TA Associates of its entire investment in First Eagle.


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