First Eagle Launches First Interval Fund
12.02.20
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Simpson Thacher represented First Eagle Investment Management, LLC (“FEIM”) and First Eagle Alternative Credit, LLC (“FEAC”) in connection with the launch of their first interval fund, the First Eagle Credit Opportunities Fund (the “Fund”). Simpson Thacher also represented the Fund in obtaining multi-class exemptive relief from the SEC to permit the Fund to offer multiple share classes. The Fund’s investment objective is to provide current income, with a secondary objective of providing long-term risk-adjusted returns, and the Fund will seek to achieve its investment objective by investing in a portfolio of a variety of credit asset classes. FEIM will serve as the Fund’s investment adviser and FEAC will serve as subadviser.
The Simpson Thacher team included Rajib Chanda, David Blass and Kate O’Neil (Registered Funds); and Jonathan Goldstein, Jonathan Cantor and Morgan Otway (Tax).