# First Eagle Alternative Credit

First Eagle Alternative Credit is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 1864
- **Assets under management:** $213B
- **Website:** firsteagle.com

## Regulatory record

- **CRD number:** 150900
- **SEC file number:** 801-71201
- **Registration status:** Registered
- **Latest Form ADV filing:** 2026-06-30
- **Reports private funds:** Yes

## About

First Eagle Alternative Credit is an SEC-registered investment adviser in Boston, MA, registered since 2010. The firm manages $12.6 billion in assets. It has 79 employees and 42 investment advisers.

## Sectors

- Equity
- Private Credit
- Multi-Asset
- Alternative Investments

## Questions

### How is First Eagle Alternative Credit structured within the First Eagle Investments ecosystem?

First Eagle Alternative Credit is a distinct registered investment advisor that acts in a sub-advisory capacity to a number of First Eagle's registered funds. Its investment activities are unified under the Napier Park brand and management as of September 2025 (per firm website).

### What credit strategies does First Eagle Alternative Credit focus on?

FEAC focuses on alternative credit strategies including direct lending to middle-market companies and collateralized loan obligations (CLOs). It invests primarily in senior secured loans, unitranche debt, and CLO equity (per firm description).

### Does First Eagle Alternative Credit report a firm-level AUM?

FEAC does not publicly report its own AUM. It disclosed $0.9 billion in committed/non-fee-paying capital as of March 31, 2026, including CLO warehouses measured at maximum commitment (per firm website).

### What is the relationship between First Eagle Alternative Credit and Napier Park?

As of September 5, 2025, the investment activities of Napier Park and FEAC were unified under the Napier Park brand and management. FEAC remains a separate RIA but operates within the Napier Park platform (per firm website).

### Who leads First Eagle Alternative Credit?

The firm does not publicly name any investment professionals or principals. Leadership details are not disclosed on its website.

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Updated: 2026-10-23T12:54:07Z

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