First Eagle Investments Partners with SUBSCRIBE to Provide Digital Onboarding for Alternative Credit Investors

New First Eagle Private Credit Fund will be available to income-oriented individual investors through the SUBSCRIBE platform

New York, June 18, 2025— First Eagle Investments is excited to announce that the First Eagle Private Credit Fund, its first retail private credit offering, was launched on the SUBSCRIBE platform on June 4. By partnering with SUBCRIBE, the $152 billion investment manager will provide investors in the fund with an innovative digital experience for onboarding, subscription documents and order workflows.

“We believe that offering a digital investment onboarding workflow aligns with our goal to provide innovative investment solutions with the added benefit of easing any operational burden" said Frank Riccio, Head of US Wealth Solutions. "In our view, SUBSCRIBE’s technology offers a fully integrated experience for all our clients.”

“We are pleased to be one of First Eagle’s onboarding solutions for their alternative investment offerings,” said Rafay Farooqui, Founder and Chief Executive Officer at SUBSCRIBE. “Our fundraising technology platform will serve as an end-to-end solution as the company scales its operations.”

About First Eagle Private Credit Fund

First Eagle Private Credit Fund (“FEPCF”) is First Eagle Investment’s non-listed business development company (“BDC”). Leveraging First Eagle’s long standing alternative credit experience and its disciplined approach to US direct lending, FEPCF aims to provide income-oriented investors access to private credit in a continuously offered fund structure. It is part of First Eagle’s $5 billion-plus direct lending platform, which provides directly originated, senior secured, floating rate loans to US middle market companies. For more information about FEPCF, please visit www.firsteaglebdc.com.

About First Eagle Investments

First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $152 billion in assets under management as of March 31, 2025*. 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 strives to help clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles. The firm’s investment capabilities include equity, fixed income, alternative credit and multi-asset strategies. For more information, please visit  www.firsteagle.com.

About SUBSCRIBE

SUBSCRIBE is a fintech company digitally transforming the landscape of alternative investments for fund managers, institutional investors, wealth managers, law firms, and fund administrators. Our platform technology modernizes the archaic infrastructure of private fund investments by delivering a central operating system — catering to every role within the investment process empowering them to connect any fund, any investor, anywhere in the world on a single platform. SUBSCRIBE supports over $6 trillion in private market assets and is the trusted technology partner to thousands of firms that rely on our end-to-end enterprise solution to scale their private market investment programs and manage investment processes across pre-trade, trade, and post-trade fund workflows. For additional information, visit  www.subscribeplatform.com or follow the company on LinkedIn.

Forward-Looking Statements 

Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. FEPCF believes these factors also include but are not limited to those described under the section entitled “Risk Factors” in its prospectus, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or FEPCF’s prospectus and other filings). Except as otherwise required by federal securities laws, FEPCF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Media Contacts

First Eagle Investments
Pholida Barclay
212-698-3208
pholida.barclay@firsteagle.com 

First Eagle Alternative Credit
Leigh Crosby
617-790-6060
leigh.crosby@firsteagle.com

SUBSCRIBE
info@subscribeplatform.com

The information contained in this Press Release is being made available solely for information purposes. Any potential investors are urged to carefully
read the applicable offering documentation and other materials in their entirety before making an investment decision.

FEPCF is a non-exchange traded business development company (“BDC”) that expects to invest at least 80% of its total assets (net assets plus borrowings for investment purposes) in private credit investments (loans and other credit instruments that are issued in private offerings or issued by private U.S. or non-U.S. companies). This investment involves a high degree of risk. You should purchase these securities only if you can afford the complete loss of your investment. You should read the prospectus carefully for a description of the risks associated with an investment in FEPCF. All investments involve the risk of loss of principal.

Summary of Risk Factors

•    We have limited prior operating history and there is no assurance that we will achieve our investment objectives.
•    Our Board of Trustees (the “Board”) may amend our third amended and restated agreement and declaration of trust without prior shareholder approval.
•    The majority of our portfolio investments will be recorded at fair value as determined in good faith by First Eagle Investment Management, LLC (the “Adviser”), as valuation designee pursuant to Rule 2a-5 under the 1940 Act, pursuant to policies and procedures approved by the Board and under the oversight of the Board, and, as a result, there could be uncertainty as to the value of our portfolio investments.
•    Because subscriptions must be submitted at least five (5) business days prior to the first calendar day of each month, you will not know the NAV per share at which you will be subscribing at the time you subscribe.
•    You should not expect to be able to sell your common shares of beneficial interest (the “Common Shares”) regardless of how we perform.
•    We do not intend to list our Common Shares on any securities exchange, and we do not expect a secondary market in our Common Shares to develop prior to any listing.
•    Because you may be unable to sell your Common Shares, your ability to reduce your exposure in any market downturn will be limited.
•    We intend to implement a share repurchase program, but only a limited number of Common Shares will be eligible for repurchase and repurchases will be subject to available liquidity and other significant restrictions.
•    An investment in our Common Shares is not suitable for you if you need access to the money you invest in a specified time frame. See “Suitability Standards” and “Share Repurchase Program” in FEPCF’s Prospectus.
•    You will bear substantial fees and expenses in connection with your investment. See “Fees and Expenses” in FEPCF’s Prospectus.
•    We cannot guarantee that we will make distributions, and if we do, we may fund such distributions from sources other than cash flow from operations, including the sale of assets, borrowings, return of capital or offering proceeds, and although we generally expect to fund distributions from cash flow from operations, we have not established limits on the amounts we may pay from such sources.
•    Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Adviser, First Eagle Alternative Credit, LLC (“FEAC” and, together with the Adviser, the “Advisers”) or their affiliates, that may be subject to reimbursement to the Adviser, FEAC or their affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled. For the avoidance of doubt, the Advisers’ waiver of management, incentive and subadvisory fees for the period from the effective date of the registration statement relating to this offering through June 30, 2025, is not subject to future recoupment in favor of the Advisers.
•    When we use leverage, the potential for loss on amounts invested in us will be magnified and may increase the risk of investing in us. Leverage may also adversely affect the return on our assets, reduce cash available for distribution to our shareholders and result in losses.
•    We may default under our credit facilities.
•    Provisions in a credit facility may limit our investment discretion.
•    We qualify as an “emerging growth company”, as defined in the Jumpstart Our Business Startups Act, as amended (the “JOBS Act”), and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our Common Shares less attractive to investors.
•    Our investments in prospective private and middle market portfolio companies are risky, and we could lose all or part of our investment. Certain companies may have limited financial resources and may be unable to meet their obligations under their debt securities that we hold, which may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of our realizing any guarantees we may have obtained in connection with our investment. In addition, they typically have shorter operating histories, narrower product lines and smaller market shares than larger businesses, which tend to render them more vulnerable to competitors’ actions and market conditions, as well as general economic downturns.
•    Our investments in lower credit quality obligations are risky and highly speculative, and we could lose all or part of our investment.
•    We may not be in a position to exercise control over our portfolio companies or to prevent decisions by management of our portfolio companies that could decrease the value of our investments.
•    The Advisers and their affiliates, senior management and employees have certain conflicts of interest, including with respect to the allocation of investment opportunities.
•    We may be obligated to pay the Adviser incentive compensation even if we incur a net loss due to a decline in the value of our portfolio.
•    If we do not invest a sufficient portion of our assets in qualifying assets, we could fail to qualify as a BDC or be precluded from investing according to our current business strategy, which would have a material adverse effect on our business, financial condition and results of operations, including, but not limited to, the tax status of any distributions. 

Investors should consider investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the Fund and may be viewed online at http://www.FirstEagleBDC.com or by calling us at 800.747.2008. Please read the prospectus carefully before investing.

Investments are not FDIC insured or bank guaranteed and may lose value.

FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

FEPCF is offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC, which provides advisory services to FEPCF. Check the background of FEFD on FINRA’s Broker Check.

First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers. First Eagle Alternative Credit is the brand name for one of the subsidiary investment advisers engaged in the alternative credit business.

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