First Eagle Investments Closes Majority Investment Deal With Genstar Capital

First Eagle Investments, an independent and privately owned investment firm, announced the closing of a majority investment from private equity funds managed by Genstar Capital. The deal, initially announced in March, is set to accelerate First Eagle’s strategic growth and expansion plans.

With approximately $161 billion in assets under management as of June 30, 2025, First Eagle manages equity, fixed income, alternative credit and multi-asset strategies, all guided by a “benchmark-agnostic, downside-aware” philosophy. The partnership with Genstar is intended to strengthen these core capabilities while allowing the firm to expand its investment offerings and reach clients globally.

First Eagle manages several funds in the AltsWire coverage universe, including First Eagle Real Estate Debt Fund, a closed-end interval fund launched earlier this summer focused both on public and private opportunities; and First Eagle Private Credit Fund, a non-traded business development company advised by First Eagle Investment Management LLC and First Eagle Alternative Credit LLC.

According to Mehdi Mahmud, president and chief executive officer of First Eagle, the partnership with Genstar will “accelerate the pace at which we expand our investment capabilities and client reach, both organically and through acquisitions.” He emphasized that the firm would maintain its independence and autonomy.

Tony Salewski, managing partner of Genstar Capital, expressed his firm’s admiration for First Eagle’s approach to client relationships. He stated that Genstar is “excited to support Mehdi and the team as they build on that foundation – scaling the firm’s strengths, pursuing thoughtful growth, and continuing to meet the evolving needs of investors with clarity and conviction.”

The transaction also marks the successful exit of previous majority owners Blackstone and Corsair owners, who had partnered with First Eagle since 2015. Over the past decade, this partnership helped First Eagle diversify its product offerings, notably by acquiring wealth channels.

First Eagle’s leadership team will continue to oversee daily operations and strategic direction. The firm’s leadership has also retained a significant ownership stake, underscoring their long-term commitment to the company’s success.

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