First Eagle Alternative Credit (FEAC), the $21 billion credit platform of First Eagle Investments, has closed its fifth direct lending fund, Direct Lending Fund V, at more than $1 billion in total available capital, including leverage.
“Direct lending is a vital financing strategy for middle-market businesses and their backing sponsors,” said Chris Flynn, president of FEAC. “Investors value our proprietary deal flow and as a result there was healthy demand for participation in our Direct Lending Fund V. Following record deployment in directly originated loans in 2021, we are well-positioned to further build our portfolio, and we will continue to serve as a reliable lending partner to both new and existing sponsor clients.”
FEAC provides loans to private equity–owned companies with an EBITDA between $5 million and $50 million, with an emphasis on companies with approximately $25 million of EBITDA. The firm seeks senior financing opportunities of up to $250 m