First Eagle's Next Chapter: Genstar Capital to Acquire Majority Stake
Deal News | Mar 03, 2025 | Corsair Capital
First Eagle Investments has announced a significant development where private equity funds managed by Genstar Capital will acquire a majority stake in the company. This transaction will enable First Eagle to further its growth, maintaining its leadership and investment teams while expanding its robust offerings worldwide. Serving its clients' needs discursively, First Eagle emphasizes delivering superior investment products and services. The acquisition aligns with Genstar's strategy of investing in high-growth, market-leading companies within targeted segments. It will replace the former majority ownership held by Blackstone, Corsair, and co-investors. Financial advisors and legal counsel, including Morgan Stanley and Simpson Thacher & Bartlett LLP, are involved, with the deal completion anticipated in the second half of 2025 subject to regulatory approvals.
Sectors
- Private Equity
- Investment Management
- Financial Services
Geography
- United States – First Eagle Investments is headquartered in New York, and Genstar Capital is based in San Francisco, making the U.S. the primary geography of this transaction.
Industry
- Private Equity – The article discusses a significant investment by private equity firm Genstar Capital in First Eagle Investments, which is central to the transaction.
- Investment Management – First Eagle Investments operates in the sector of investment management, offering diversified investment solutions.
- Financial Services – Both First Eagle and Genstar Capital are involved in the broader financial services industry.
Financials
- $144 billion – Assets under management by First Eagle Investments as of December 31, 2024.
- $49 billion – Assets under management by Genstar Capital.
- $1.1 trillion – Assets under management by Blackstone.
- $13.6 billion – Capital invested by Corsair.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| First Eagle Investments | Target company | Company | An independent, privately owned investment management firm headquartered in New York. |
| Genstar Capital | Bidding Company | Company | A leading private equity firm focused on investments in financial services, software, healthcare, and industrials. |
| Blackstone | Selling Company | Company | The world's largest alternative asset manager and former majority stakeholder in First Eagle. |
| Corsair Capital | Selling Company | Company | A specialist investment firm involved in financial services investments, also a former stakeholder in First Eagle. |
| Morgan Stanley & Co. LLC | Lead Financial Advisor | Company | Acting as the lead financial advisor to First Eagle. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Providing legal counsel to First Eagle for the transaction. |
| Davis Polk & Wardwell LLP | Legal Advisor | Company | Providing additional legal counsel to First Eagle. |
| Willkie Farr & Gallagher LLP | Legal Advisor | Company | Providing legal counsel to Genstar Capital. |
| Moelis & Company LLC | Lead Financial Advisor | Company | Acting as the lead financial advisor to Genstar Capital. |