First Eagle Investments

First Eagle is celebrating National Intern Day! We are impressed with the caliber of talent in our 2025 intern class and committed to providing our interns with an immersive and rewarding professional experience. In addition to working with First Eagle employees, we provide programs outside of the firm in order to broaden their experience. This includes a trip to the NYSE—which featured presentations from NYSE employees and a tour of the trading floor for the closing bell—and a volunteer event with New York Cares to clean Marcus Garvey Park in Harlem as part of First Eagle’s dedication to making a positive impact in the communities where we live and work. We are grateful for this incredible group of interns.

First Eagle Academy is pleased to present another installment of our video series about real estate specialty lending. Tim Ruberti, managing director on the mortgage and consumer strategies team, explains how residential real estate dynamics support demand for short-term loans to real estate developers to repair and renovate homes. Watch “Residential Transitional Loans” to learn how well-funded asset managers with strong originator relationships are likely to have consistent opportunities to selectively purchase individual loans at attractive terms. https://bit.ly/3UBlaGp

Though the early-April “Liberation Day” tariffs announcement struck a discordant note, a delay in the most punitive levies were enough to draw markets to new highs in the second quarter. While there are signs that the labor market is balanced with target-level inflation, we believe the potential for resurgent inflation—likely emanating from the labor market—remains significant and under­appreciated by investors. Read how we are assessing risk and opportunity amid uncertainty. https://bit.ly/46WKGgF

First Eagle Academy understands the importance of staying current in an evolving landscape. That's why we are pleased to offer online continuing education for financial professionals. Enhance your expertise and fulfill your continuing education requirements with our comprehensive course "Alternative Credit: Understanding the Asset Class Overview." Learn what comprises alternative credit, the potential benefits and risks of the asset class and the different ways to gain access to private credit. Click here to get credit for CFA, CFP, CFFP, IWI or PRP. https://bit.ly/44NO1xm

We are pleased to announce that the First Eagle Short Duration High Yield Municipal Fund has topped $1 billion in assets and our municipal bond platform now exceeds $8 billion, as of June 30, 2025. John Miller, head and CIO of the Municipal Credit team, said “Reaching this level of growth in a relatively short time speaks to the power of our disciplined, research-driven approach.” Learn more about First Eagle’s municipal bond platform: https://bit.ly/459NHrI

In an environment fraught with new legislative challenges—from changes in Medicaid, to tariffs, to most favored nation pricing—explore where First Eagle Alternative Credit’s Garrett Stephen, senior managing director and co-head of origination on the Direct Lending team, and Jeff Kovanda, managing director and sector portfolio manager on the Tradable Credit team see opportunities and risks in healthcare credit. https://bit.ly/40uKlOi

Please join us for the Global Value team second quarter webcast featuring Matthew McLennan, co-head of the Global Value team, on July 30th at 3 pm ET. Tune in for a discussion on the current investment landscape, how we view risks and uncertainties, and where the team is identifying value and opportunities. Click here to register now: https://bit.ly/44K26fe

Larry Klaff, senior managing director and head of asset-based loans at FEAC, recently spoke to Michael Toglia at ABL Advisor about how lenders are adapting to ongoing tariff disruptions, evolving changes in borrower behavior and the broader impacts of shifting trade policies. He also provided insights on how macroeconomic and geopolitical uncertainties are influencing lending practices and highlighted how different sectors have increasingly turned to asset-based lending solutions to navigate a highly volatile environment. Watch the full interview now: https://bit.ly/3UiptpQ

LevFin Insights recently interviewed Tracey Jackson, CLO portfolio manager and head of quantitative analytics at FEAC, about how she is navigating tight credit spreads and compressed arbitrage by focusing on credit quality and portfolio diversification in a volatile environment. Tracey also discussed why manager quality has become a key differentiator. Read the full interview now: https://bit.ly/4lVDzt7

Please join us for a municipal bond market webcast featuring John Miller, head and CIO of the Municipal Credit team, on July 22 at 11 am ET. John will provide an update on the market and share insights on where he sees compelling opportunities. Click here to register now! https://bit.ly/4eMOgvM