First Eagle Private Credit, LLC (Boston)

First Eagle Private Credit, LLC is a large advisory firm based in Boston. It manages $4.65 billion of regulatory assets for 15 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Connecticut, Massachusetts, and New York.

First Eagle Private Credit provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

First Eagle Private Credit: assets under management

The assets under management (AUM) of First Eagle Private Credit, LLC is $4.65 billion. The firm's AUM has grown by 0% since the beginning of its operation, and $1.66 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $4.64 billion in discretionary accounts and $6.21 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $357.05 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.11 million.

First Eagle Private Credit has custody of $274.41 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay First Eagle Private Credit, LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients First Eagle Private Credit serves?

The only and largest group of clients of First Eagle Private Credit is pooled investment vehicles with 15 clients and $4.65 billion of assets under management. Among the 12 most similar advisory firms, First Eagle Private Credit has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $4.65 billion for 15 clients. 40% of the firm’s clients are foreign persons or businesses.

First Eagle Private Credit also advises several private funds. Namely, one hedge fund, two other private funds, and eleven securitized asset funds. The minimum investment commitment required of non-related persons ranges from $25,000 to $25,000,000.

Careers at First Eagle Private Credit, LLC

The company employs 62 people that are either part- or full-time employees. 35 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Daniel Douglas Mccready has served as the Chief Investment Officer since 1 Jul 2016. Llc First Eagle Investment Management joined the executive team most recently as the Sole And Managing Member.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 23 indirect owners.

Based in Boston

The principal office where First Eagle Private Credit, LLC performs its advisory services is located at 500 Boylston St., Boston, MA 02116, which is also the mailing address of the firm. An additional office of the firm is in Norwalk, CT. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-848-2500 or by fax 617-848-4300. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at feim.com.

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