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First Eagle

First Eagle Parent Rating

Above Average

First Eagle has maintained its investment-focused mindset while continuing to evolve, earning an Above Average Parent rating.

The global value team, whose strategies invest across equities, fixed income, and real assets, managed USD 82 billion of the firm's USD 124 billion in assets under management as of December 2022, and it remains the keystone of the firm. Team leaders Matt McLennan and Kimball Booker are likely still in the middle of their careers, but they have proactively planned for succession by naming supporting comanagers to most strategies under their book, as well as incrementally adding to the veteran group of analysts that supports key fund First Eagle Global and a growing collection of capabilities. First Eagle lifted Bill Hench's small-cap-focused team from Royce Investment Partners in 2021; while his strategies have been off to a volatile start, he posted a compelling track record at his previous firm and provides diversification for First Eagle's core abilities.

CEO Mehdi Mahmud, in place since 2016, has been eager to grow the firm and has expanded First Eagle's alternative credit capabilities through a series of acquisitions, most recently Napier Park in March 2022. Yet, he has been keen to preserve the autonomy of this boutique, keeping in line with his firm's long-standing commitment to providing its teams with independence in their investment decisions.

First Eagle Investments

Market

US Open-end ex MM ex FoF ex Feeder

Total Net Assets

73.44 Bil

Investment Flows (TTM)

−1.07 Bil

Asset Growth Rate (TTM)

−1.59%

# of Share Classes

40
Morningstar Rating # of Share Classes
7
8
8
1
4
Not Rated 12

Morningstar Mentions

These funds may be new, but they look a lot like proven older funds.

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