Genstar Capital to acquire a majority stake in First Eagle.

Genstar Capital, a private equity firm, agreed to acquire a majority stake in First Eagle, an investment management firm. Financial terms were not disclosed. “Serving clients is our primary purpose at First Eagle and drives our commitment to providing superb investment products and exceptional client service. The transaction with Genstar preserves our client-centric ethos and operating independence while providing fresh capital to enhance our value to clients. Combined with First Eagle’s reputation as a preferred destination for top talent, Genstar’s partnership will accelerate the pace at which we expand our investment capabilities and client reach, both organically and through acquisitions. We are thrilled with the opportunities ahead,” Mehdi Mahmud, First Eagle President and CEO.