Private equity company Genstar Capital is reportedly in discussions to purchase a controlling interest in First Eagle Investment Management, a company that is majority owned by Blackstone and Corsair Capital.
The potential deal is expected to value First Eagle at over $4bn, reported Bloomberg, citing sources.
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These confidential negotiations have not yet concluded, and it is possible that the acquisition may not proceed, according to the news outlet.
Blackstone and Corsair have held a majority stake in First Eagle since 2015. They have been exploring the sale with the assistance of an advisor, according to a report of the Financial Times earlier this month.
Representatives of First Eagle, Genstar, Blackstone, and Corsair have not commented on the talks, reported Bloomberg.
First Eagle Investment Management, headquartered in New York and led by CEO Mehdi Mahmud, managed assets worth approximately $149bn as of 30 September 2024.
The firm has expanded its reach by acquiring THL Credit Advisors and Napier Park Global Capital.
In the previous year, First Eagle appointed Michael Constantino as its chief financial officer, who reports directly to Mahmud.
In September 2023, First Eagle Investments appointed Allison Shaw as managing director and global head of consultant relations.
Genstar Capital invests across various sectors, including financial services, healthcare, industrials, and software.
In 2023, the firm raised $12.6bn for its 11th fund.
