First Eagle Credit Opportunities Fund Celebrates One-Year Anniversary

NEW YORK, September 23, 2021— First Eagle Investment Management, LLC (“First Eagle”) is pleased to mark the one-year anniversary of the First Eagle Credit Opportunities Fund (Ticker: FECRX). The Fund seeks to provide current income with a focus on delivering strong risk-adjusted returns over the long term by investing in a range of private and public credit assets—including direct lending, middle-market “club” loans, syndicated bank loans, asset-based loans and high yield bonds. In the year since its September 15, 2020, inception, the Credit Opportunities Fund returned 12.30%; as of August 31, 2021, its distribution yield was 7.14%.¹

“We believe the Fund’s launch was fortunately timed,” said Christopher J. Flynn, President of First Eagle Alternative Credit. “While the Fund had been in the planning stages since early 2020, the Covid-related market dislocations that began in March allowed us to be patient in seeding the portfolio. Once we ramped up in September, there were ample opportunities to establish strong foundational positions that we believe have the potential to benefit our investors over the long run.”

The Credit Opportunities Fund is registered as a closed-end interval fund. Providing investors with daily purchase opportunities, monthly distributions when applicable and quarterly redemption windows, the interval fund structure allows the Fund’s portfolio managers greater flexibility to invest in alternative income-generating assets—such as private credit and syndicated loans—that historically have offered higher yields relative to traditional securities in exchange for reduced liquidity. With no requirements that investors be accredited or qualified and low minimum investments, this differentiated investment solution is available to retail investors often shut out of such opportunities.

“We are very excited to mark this milestone, especially given the strong inflows we have seen over the Fund’s first year,” said Jack Snyder, National Sales Manager, Wirehouse and RIA Channel, and Head of Retail Alternative Sales at First Eagle. “We believe this success is attributable to the broad accessibility of the strategy in a complex market, coupled with its robust historical performance and attractive relative yield and what we expect to be ongoing demand for alternative income-oriented strategies.”

Leveraging an institutional platform with decades of experience in direct lending and tradable credit across multiple market cycles, the Credit Opportunities Fund seeks to invest primarily in senior-secured, first-lien corporate credit, which may better mitigate downside compared with other income-oriented securities such as bonds and preferred and dividend-paying stocks. Further, the historically low correlation between alternative credit and traditional fixed income investments suggests the Fund also may serve as a diversifying complement to investors’ other portfolio holdings.

ABOUT FIRST EAGLE INVESTMENT MANAGEMENT

First Eagle Investment Management is an independent, privately owned investment management firm headquartered in New York with approximately $113 billion in assets under management as of June 30, 2021. 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. Over a long history 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 equity, fixed income, alternative credit and multi-asset strategies. For more information on First Eagle, please visit www.feim.com. For information on the Alternative Credit team at First Eagle, please visit www.feac.com.

MEDIA CONTACTS

Mount and Nadler
Hedda Nadler
hedda@mountandnadler.com
212-759-4440

For important disclosures and information about the Credit Opportunities Fund, please click here.