First Eagle in the News
First Eagle Alternative Credit Appointed Sub-Advisor to American Beacon FEAC Floating Rate Income Fund
BOSTON –January, 17th, 2023 – First Eagle Alternative Credit (“FEAC” or “the Firm”), an alternative credit platform of First Eagle Investments with over $21b in assets under management, today announced that it has been appointed as sole sub-advisor to American Beacon Advisors’ floating rate income fund (the "Floating Rate Income Fund"). American Beacon Advisors, Inc. is a leading provider of investment advisory services to institutional and retail markets with more than $63.8 billion in assets under management as of November 30, 2022.
The Floating Rate Income Fund, which debuted in 2012 and had approximately $315 million in total assets under management as of December 31, 2022, will be marketed as the American Beacon FEAC Floating Rate Income Fund (R5 Class: SPFLX) effective December 31, 2022. It primarily invests in floating-rate instruments of non-investment grade U.S. corporate issuers, broadly diversified across industry and sector, and offers daily liquidity. The Floating Rate Income Fund is an SEC-registered, open-end mutual fund.
“We are honored to be selected as the new sub-advisor to this retail credit fund,” said Jim Fellows, Chief Investment Officer of First Eagle Alternative Credit. “We bring deep investment and operational experience in tradable credit and are excited for the opportunity to serve as steward of the American Beacon FEAC Floating Rate Income Fund.”
About First Eagle Alternative Credit
First Eagle Alternative Credit is an alternative credit manager for both direct lending and broadly syndicated investments with approximately $21 billion in assets under management as of September 30, 2022. First Eagle Alternative Credit maintains a variety of advisory and sub-advisory relationships across its investment platforms and is a wholly owned subsidiary of First Eagle Investments. For more information on First Eagle Alternative Credit, please visit www.feac.com.
About First Eagle Investments
First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $115 billion in assets under management as of September 30, 2022. Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental, and benchmark-agnostic investing, with a strong emphasis on downside mitigation. With a heritage 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 equities, fixed income and currencies, alternative credit, and real assets. Headquartered in New York, First Eagle Investments employs 583 people, including 142 investment professionals across 14 offices worldwide. For more information on First Eagle, please visit www.firsteagle.com.
About American Beacon Advisors
American Beacon Advisors, Inc. is an investment affiliate of Resolute Investment Managers, Inc. and is a leading provider of investment advisory services to institutional and retail markets. Established in 1986, American Beacon Advisors serves defined benefit plans, defined contribution plans, foundations, endowments, corporations and other institutional investors, as well as retail clients. American Beacon Advisors manages the American Beacon Funds, a series of competitively priced mutual funds. The Funds employ a “manager of managers” investment style and currently include international and domestic equity, fixed income and money market funds. For more information, visit www.americanbeaconadvisors.com.
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