First Eagle Opens London Office
David Townsend Joins the Firm
LONDON— 13 September 2017—First Eagle Investment Management, LLC, is pleased to announce the opening of a London office, which will serve institutional clients and their consultants in Europe, the Middle East and Africa (EMEA).
“We believe our clients in the EMEA region can best be served from an office that’s close to them in geography and time zone,” said Mehdi Mahmud, President and Chief Executive Officer of First Eagle Investment Management, LLC. “London is a natural location for the office because of its established position as a centre of excellence in global financial services and its depth of resident talent in the investment management industry.”
The new office is centrally located in the City at 125 Old Broad Street, Suite 720, London, EC2N 1AR, United Kingdom. Business at the office will be conducted through a new UK-based subsidiary, First Eagle Investment Management, Ltd, which will apply for authorisation from the UK Financial Conduct Authority.
David Townsend to Lead Institutional Efforts in EMEA Region
David Townsend, who recently joined First Eagle as Head of EMEA Institutional, will manage the London office and all aspects of the firm’s institutional business in the region.
Douglas Meyer, Head of First Eagle’s Institutional Distribution, said, “We’re delighted to have David on board to strengthen our presence overseas. His extensive experience with institutional investors and consultants in the EMEA region makes him the right person for this important role.” Meyer added, “We also believe that this is the right time for David to join us. Institutions in this region are showing a growing appetite for solutions like ours that combine the potential for strong returns with downside protection over full market cycles.”
Before joining First Eagle, Townsend managed Martin Currie Investment Management’s EMEA business and the firm’s relationships with global consultants. Prior to that, he was Head of UK Institutional Sales at AXA Investment Management and Director of Sales at Scottish Life International Investment Group. Townsend began his career at Fidelity Investments International. He holds a BA in Modern European Studies from Trent Polytechnic and an MA in Near and Middle East Area Studies from the School of Oriental and African Studies at University of London.
About First Eagle Investment Management
First Eagle Investment Management, LLC, is an independent investment management firm headquartered in New York with approximately US$110 billion in assets under management (as of 30/06/2017). Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong emphasis on downside protection. Over a long history dating back to 1864, First Eagle 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 and multi-asset strategies. For more information, please visit www.feim.com.
Private equity funds owned by The Blackstone Capital Partners and Corsair Capital own a majority stake in First Eagle Investment Management.
This press release relates to First Eagle Investment Management, Ltd (“FEIM UK”), which will apply to the UK Financial Conduct Authority (“FCA”) for authorisation, but no such authorisation has yet been granted. Until such time as authorisation is granted by the FCA, FEIM UK cannot undertake or offer to undertake regulated investment business or agree to carry on regulated investment business.
This press release is directed only at persons reasonably believed to be of a kind to whom an unauthorised person is permitted to communicate financial promotions pursuant to the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “FPO”), to give preliminary information about FEIM UK. Such persons may include: (a) persons outside the United Kingdom, (b) persons having professional experience in matters relating to investments and (c) high net worth bodies corporate, partnerships, unincorporated associations and trusts within Article 49 of the FPO. This press release is directed only at such persons, and persons of any other description may not act or rely on it.
First Eagle Investment Management, Ltd is a limited company incorporated in England and Wales (number 10464101), with its registered address at 27 Old Gloucester Street, London, WC1N 3AX, United Kingdom.