Report: First Eagle, Amundi Partner on New Private Credit Fund

First Eagle Investments has launched a new private credit fund in collaboration with French asset management company Amundi, according to January 7 media reports citing the firms.

The credit fund is structured as an evergreen investment vehicle. It will target loans and other debt instruments from lower middle-market companies in the US characterized as having an EBITDA in the range of $5M to $50M.

The US investment manager First Eagle said it partnered with Amundi on the new fund to capitalize on the latter's distribution network in Europe, the Middle East and Asia, expanding the reach of its private credit services in the process. The pair previously partnered on the First Eagle Amundi International Fund, which as of January 7 had $6.17B in AUM, according to Amundi.

Michelle Handy, alternative credit CIO for direct lending at First Eagle, will manage the fund alongside a team that also includes CIO for tradable credit, Robert Hickey.