Deals
First Eagle to Buy Napier Park in Latest CLO Business Merger
- Purchase follows other M&A deals in the $1 trillion industry
- With the acquisition, First Eagle will add $18.7 billion AUM
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First Eagle Investment Management agreed to buy Napier Park Global Capital, an established manager of collateralized loan obligations, in the latest consolidation in the $1 trillion industry.
With the purchase, First Eagle will add European CLO management to its portfolio as well as $18.7 billion in assets under management, according to a company statement. The investment management firm also holds other structured products, including bonds backed by U.S. mortgages, consumer and municipal debt and equipment leasing.