Key Takeaways
- • First Eagle Alternative Credit (FEAC) President Chris Flynn plans to leave the firm in early 2025, with Chief Investment Officer Jim Fellows named co-president effective immediately and set to become President upon Flynn's departure.
- • FEAC, a wholly owned subsidiary of First Eagle Investments with approximately $21.7 billion in assets under management as of December 31, 2023, announced a slate of senior promotions effective immediately.
- • Michelle Handy and Bob Hickey were promoted to Chief Investment Officers of Direct Lending and Tradable Credit, respectively, while Ed Giordano added the title of Chief Operating Officer.
- • Fellows, Handy, Murphy, Stephen and Hickey now sit on FEAC's Global Investment Committee, alongside Flynn and Head of Business Development Mike Herzig.
Summary
First Eagle Alternative Credit ("FEAC") announced that President Chris Flynn plans to leave the firm in early 2025. Effective immediately, Flynn shares the title of FEAC Co-President with Jim Fellows, who is also FEAC's Chief Investment Officer. Fellows will become President upon Flynn's departure and will continue to serve as CIO. The firm described the period of co-leadership as intended to promote a smooth transition of responsibilities. Both executives report to First Eagle President and CEO Mehdi Mahmud.
Mahmud credited Flynn with transforming FEAC into a premier alternative credit platform and with developing a deep bench of alternative investment professionals in what he described as a relatively nascent corner of the capital markets. Flynn said he had worked side-by-side with Fellows for well over a decade and was confident Fellows would thrive as President.
Fellows has been with FEAC and its predecessor companies for 20 of his more than 30 years in the alternative investment industry. He is a member of FEAC's Global Investment Committee and the investment committees of both its Tradable Credit and Direct Lending platforms.
The leadership transition plan also includes several promotions, all effective immediately. Michelle Handy, previously Deputy Chief Investment Officer of Direct Lending, was promoted to Chief Investment Officer of Direct Lending. Bob Hickey, previously Deputy Chief Investment Officer of Tradable Credit, was promoted to Chief Investment Officer of Tradable Credit. Brian Murphy, Head of Capital Markets, and Garrett Stephen, Co-Head of Origination and Structuring for Direct Lending, were named Co-Heads of Origination for FEAC, with Murphy retaining his capital markets title. Ed Giordano, Chief Financial Officer, added the title of Chief Operating Officer. Handy, Murphy and Stephen joined the Global Investment Committee alongside Flynn, Fellows, Hickey and Head of Business Development Mike Herzig.
FEAC is an alternative credit manager for direct lending and broadly syndicated investments, with approximately $21.7 billion in AUM as of December 31, 2023. Its parent, First Eagle Investments, is an independent, privately owned firm headquartered in New York with approximately $134 billion in AUM as of the same date, according to the release.
Mahmud credited Flynn with transforming FEAC into a premier alternative credit platform and with developing a deep bench of alternative investment professionals in what he described as a relatively nascent corner of the capital markets. Flynn said he had worked side-by-side with Fellows for well over a decade and was confident Fellows would thrive as President.
Fellows has been with FEAC and its predecessor companies for 20 of his more than 30 years in the alternative investment industry. He is a member of FEAC's Global Investment Committee and the investment committees of both its Tradable Credit and Direct Lending platforms.
The leadership transition plan also includes several promotions, all effective immediately. Michelle Handy, previously Deputy Chief Investment Officer of Direct Lending, was promoted to Chief Investment Officer of Direct Lending. Bob Hickey, previously Deputy Chief Investment Officer of Tradable Credit, was promoted to Chief Investment Officer of Tradable Credit. Brian Murphy, Head of Capital Markets, and Garrett Stephen, Co-Head of Origination and Structuring for Direct Lending, were named Co-Heads of Origination for FEAC, with Murphy retaining his capital markets title. Ed Giordano, Chief Financial Officer, added the title of Chief Operating Officer. Handy, Murphy and Stephen joined the Global Investment Committee alongside Flynn, Fellows, Hickey and Head of Business Development Mike Herzig.
FEAC is an alternative credit manager for direct lending and broadly syndicated investments, with approximately $21.7 billion in AUM as of December 31, 2023. Its parent, First Eagle Investments, is an independent, privately owned firm headquartered in New York with approximately $134 billion in AUM as of the same date, according to the release.
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