First Eagle sources over 90% of its deal volume from private-equity sponsors, and creating and growing its relationships with these firms are high priorities. In this PM’s Perspective, Pat McAuliffe, who heads direct origination, explains the value that First Eagle may add in its sponsor relationships.
Matt McLennan reflects on his first decade managing First Eagle's Global Value team, and the challenges and potential rewards of value investing. See what excites him about the next 10 years.
At First Eagle, we have received many questions about sustainable investing from investors and investment professionals. To help answer these questions, we asked Thomas Kertsos, co-portfolio manager of the Gold Fund, and Max Belmont, research analyst for the Gold Fund, to discuss their thinking in this area.
The private debt market has expanded over the past decade, as institutional and high-net-worth investors, disappointed by falling bond yields, have sought corners of the fixed income market where robust returns may still be available.
While we don’t have a crystal ball at First Eagle, we do have a sense of current valuations and of the underlying vulnerabilities in the system. If the broader markets themselves are priced for low returns, investors who choose passive vehicles face the prospect of singularly disappointing returns over the long term.