Blackstone, Corsair to Acquire First Eagle at $4B Valuation
July 21, 2015
Blackstone and Corsair Capital, along with clients of the two firms, have agreed to make a majority investment in First Eagle Investment Management at a total enterprise value of roughly $4 billion. As part of the deal, which is expected to close in 4Q, TA Associates will exit its entire stake. With roots dating to 1864, First Eagle is an independent asset management firm that manages approximately $100 billion in assets on behalf of institutional and individual clients; TA has backed it since 2007. First Eagle's senior management and investment leadership will continue to run the business on a day-to-day basis and retain significant ownership. Blackstone and Corsair will exercise their oversight at the Board level.