First Eagle completed the acquisition of THL Credit from Thomas H. Lee Partners.

First Eagle, an independent investment management firm, completed the acquisition of THL Credit, an alternative credit manager with c. $17bn in assets under management, from Thomas H. Lee Partners. Financial terms were not disclosed. “The transaction is a transformative step forward for both organizations, positioning the business to provide more capital and financing options to private equity sponsors, while also offering broader investment options to institutional and retail investors. I am confident that the resulting First Eagle alternative credit platform will thrive under Chris’s leadership, and I look forward to working with him to ensure a smooth transition for all of our stakeholders,” Tim Conway, First Eagle Private Credit Founder.