BOSTON – July 12, 2022 – First Eagle Alternative Credit, the alternative credit platform of First Eagle Investments, today announced that it has provided a $20 million term loan to Nicole Miller, a global fashion and lifestyle brand. The term loan will help finance the company’s initiatives to partner with its licensees to build the brand’s e-commerce presence and develop strategic relationships.
The global, eponymous fashion and lifestyle brand was founded by Nicole Miller in 1982 and has become one of the premier names in American fashion. In addition to its womenswear collections, the company has partnered with leading licensees in numerous categories, including handbags, shoes, jewelry, fragrance and beauty, and home.
Gordon Brothers, the global advisory and investment firm, made a majority investment in Nicole Miller earlier this year to help the already highly successful enterprise drive further growth.
“This financing was a great opportunity for First Eagle to provide capital through our asset-based lending strategy to a growing global brand, enabling it to further develop its key business relationships and enhance its online presence,” said Larry Klaff, Senior Managing Director and Head of Asset Based Loans at First Eagle Alternative Credit. “Asset-based loans are an effective, well-proven financing structure and this deal underscored the value we see within Nicole Miller, specifically its strong intellectual property assets.”
“First Eagle understands how to evaluate brand value and worked to provide flexible capital to fit the business’ needs,” said Tobias Nanda, President, Brands at Gordon Brothers. “The team worked quickly, helping us optimize the company’s capital structure to support future growth.”
About First Eagle Alternative Credit, LLC
First Eagle Alternative Credit, LLC is an alternative credit investment manager for both direct lending and broadly syndicated investments through public and private vehicles, collateralized loan obligations, separately managed accounts and co-mingled funds. First Eagle Alternative Credit maintains a variety of advisory and sub-advisory relationships across its investment platforms. First Eagle Alternative Credit is a wholly owned subsidiary of First Eagle Investment Management, LLC.
About Nicole Miller
Nicole Miller is a global fashion and lifestyle brand headquartered in New York’s historic garment center. Founded in 1982, the iconic brand has grown to be one of the premier names in American fashion. In addition to its celebrated womenswear collections, the company has partnered with leading licensees in numerous fashion and lifestyle categories, including handbags, shoes, jewelry, eyewear, denim, activewear, sleepwear, childrenswear, fragrance and beauty, and home. Nicole Miller products can be found in department stores, premium off-price stores, specialty stores and on a variety of ecommerce sites, making the brand accessible for a wide customer base. The brand is celebrating its 40th Anniversary this fall, and Nicole has been named Fashion Designer of the Year. She will be honored during Hamptons Fashion Week this August.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.
Charlyn Lusk Stanton