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First Eagle Investments launches real estate debt fund
Fundraising - JUNE 11, 2025

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First Eagle Investments launches real estate debt fund

by Released

First Eagle Investments has launched First Eagle Real Estate Debt Fund, managed by Napier Park Global Capital.

The fund seeks to provide attractive risk-adjusted returns and current income by investing across private and public real estate debt markets, with a focus on investment opportunities in residential real estate. The fund is structured as a closed-end interval fund and intends to elect to be taxed as a Real Estate Investment Trust (REIT), providing investors with advantaged tax treatment in an investor-friendly wrapper.

“We believe that long-term secular drivers such as demographic tailwinds, a persistent housing supply shortage and the ongoing need for financing present a strong, differentiated opportunity in the residential real estate market,” said Rajesh Agarwal, portfolio manager of the real estate debt fund. “Recognizing the regulatory headwinds facing conventional lenders that historically served this space, we see a durable opportunity for alterna

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