{"url":"https://nivawealth.com/firms/first-eagle-alternative-credit-150900","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/150900","regulatoryAum":12562376360,"crd":"150900","secFileNumber":"801-71201","legalName":"First Eagle Alternative Credit, LLC","displayName":"First Eagle Alternative Credit","website":"https://www.firsteagle.com/FEAC","linkedinUrl":"http://www.linkedin.com/company/first-eagle-investment-management","founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"500 Boylston Street, Suite 1250","city":"Boston","state":"MA","stateName":"Massachusetts","country":"United States","postalCode":"02116"},"tradeNames":[],"registration":{"secApproved":"21 April 2010","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":79,"advisory":42,"brokerDealerReps":4,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":12559312070,"discretionaryAccounts":80,"nonDiscretionary":3064290,"nonDiscretionaryAccounts":1,"wrapProgram":null,"nonUsClientsPct":62,"nonAumClients":0},"clientTypes":[{"label":"Investment companies","clients":1,"regulatoryAum":781391338},{"label":"Business development companies","clients":1,"regulatoryAum":651820000},{"label":"Pooled investment vehicles","clients":70,"regulatoryAum":10350526512},{"label":"State or municipal government entities","clients":null,"regulatoryAum":3064290},{"label":"Other investment advisers","clients":null,"regulatoryAum":715380194},{"label":"Insurance companies","clients":null,"regulatoryAum":45015756},{"label":"Sovereign wealth funds and foreign official institutions","clients":null,"regulatoryAum":15178270}],"fees":[],"feeNotes":[],"custodians":[{"name":"Bank of New York Mellon","shortName":"Bank of New York Mellon","location":"Pittsburgh, PA","smaAssets":14448627},{"name":"Northern Trust Global Services Se","shortName":"Northern Trust Global Services Se","location":"Chicago, IL","smaAssets":3064290},{"name":"Wells Fargo Bank, N.A.","shortName":"Wells Fargo Bank, N.A.","location":"San Francisco, CA","smaAssets":0},{"name":"Bank of America","shortName":"Bank of America","location":"New York, NY","smaAssets":0}],"custodyNote":"First Eagle Alternative Credit has custody of $1.82B for 33 clients.","otherCustodians":[],"leadership":[{"name":"Mehdi Mahmud","title":"Chief Executive Officer","crd":"3041637"},{"name":"Michael Constantino","title":"Group Chief Financial Officer","crd":"2932606"},{"name":"Robert Marks","title":"Chief Compliance Officer","crd":"7287634"},{"name":"David O'Connor","title":"Head of Legal and Compliance & Chief Legal Officer","crd":"5077118"}],"ownership":[{"label":"First Eagle Investment Management, LLC","detail":"Sole and managing member in the 75% or more ownership band and a control person, since January 2020."},{"label":"First Eagle Holdings, Inc.","detail":"Indirect owner: a managing member and parent company of First Eagle Investment Management, LLC in the 75% or more band and a control person, since January 2020.","parent":"First Eagle Investment Management, LLC"},{"label":"GC Ferry Intermediate, Inc.","detail":"Indirect owner: a managing member of First Eagle Holdings, Inc. in the 75% or more band and a control person, since August 2025.","parent":"First Eagle Holdings, Inc."},{"label":"GC Ferry Holdings, Inc.","detail":"Indirect owner: a sole shareholder of GC Ferry Intermediate, Inc. in the 75% or more band and a control person, since February 2025.","parent":"GC Ferry Intermediate, Inc."},{"label":"GC Ferry Parent LP","detail":"Indirect owner: a sole shareholder of GC Ferry Holdings, Inc. in the 75% or more band and a control person, since February 2025.","parent":"GC Ferry Holdings, Inc."},{"label":"GC Ferry Parent GP, LLC","detail":"Indirect owner: general partner of GC Ferry Parent LP and a control person, since February 2025.","parent":"GC Ferry Parent LP"},{"label":"Genstar Capital Partners XI, L.P.","detail":"Indirect owner: sole member of GC Ferry Parent GP, LLC and a control person, since February 2025.","parent":"GC Ferry Parent GP, LLC"},{"label":"Genstar Capital XI, L.P.","detail":"Indirect owner: general partner of Genstar Capital Partners XI, L.P. and a control person, since June 2022.","parent":"Genstar Capital Partners XI, L.P."},{"label":"Genstar Capital Partners LLC","detail":"Indirect owner: investment adviser of Genstar Capital XI, L.P. and a control person, since April 2015.","parent":"Genstar Capital XI, L.P."},{"label":"Genstar XI GP LLC","detail":"Indirect owner: general partner of Genstar Capital XI, L.P. and a control person, since June 2022.","parent":"Genstar Capital XI, L.P."},{"label":"CG Family Trust","detail":"Indirect owner: a member of Genstar Capital Partners LLC in the 25% to 50% band and a control person, since September 2015. Also a member of Genstar XI GP LLC in the 25% to 50% band and a control person, since September 2015. Also a limited partner of Genstar Capital XI, L.P. in the 25% to 50% band and a control person, since September 2015.","parent":"Genstar Capital Partners LLC"},{"label":"J. Ryan Clark","detail":"Indirect owner: trustee of CG Family Trust and a control person, since September 2015.","parent":"CG Family Trust"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":2,"privateResidences":0},"listedOfficeAddresses":3,"officesByState":[{"state":"Illinois","offices":1,"addresses":[{"street":"227 W. Monroe","city":"Chicago"}]},{"state":"Massachusetts","offices":1,"addresses":[{"street":"500 Boylston Street, Suite 1250","city":"Boston","headquarters":true}]},{"state":"New York","offices":1,"addresses":[{"street":"280 Park Ave","city":"New York"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"617-848-2577","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees","Other"],"activities":["Portfolio management for investment companies","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients"],"financialPlanningClients":null,"assetMix":[{"label":"Non-investment grade corporate bonds","percent":1},{"label":"Other","percent":99,"detail":"Broadly Syndicated and Middle Market Loans"}],"privateFunds":70},"sources":{"adv1FilingDate":"30 June 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/150900/PDF/150900.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does First Eagle Alternative Credit have?","answer":"First Eagle Alternative Credit has 72 clients and manages $12.6 billion for them, as of June 2026. They include 70 pooled investment vehicles, 1 investment companies and 1 business development companies.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 30 June 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does First Eagle Alternative Credit offer?","answer":"First Eagle Alternative Credit provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does First Eagle Alternative Credit use?","answer":"First Eagle Alternative Credit’s separately managed account assets are held at Bank of New York Mellon (Pittsburgh, PA), with $14,448,627 and Northern Trust Global Services Se (Chicago, IL), with $3,064,290. The filing also lists Wells Fargo Bank, N.A. and Bank of America with no separately managed account assets.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 June 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does First Eagle Alternative Credit have?","answer":"First Eagle Alternative Credit has 0 investment adviser representatives registered with state securities authorities, out of 79 employees, and 42 perform investment advisory functions. 4 are registered representatives of a broker-dealer and 0 are licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does First Eagle Alternative Credit invest in?","answer":"At the end of its last fiscal year, First Eagle Alternative Credit’s separately managed accounts held 99% broadly syndicated and middle market loans and 1% high-yield corporate bonds. It advises 70 private funds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns First Eagle Alternative Credit?","answer":"First Eagle Alternative Credit’s direct owner is First Eagle Investment Management, LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 30 June 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does First Eagle Alternative Credit get paid?","answer":"First Eagle Alternative Credit is paid through a percentage of assets under management, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}