SHOCKER: Blackstone Puts Historic First Eagle Investment Management on the Auction Block for a Whopping $4 Billion!
Watch Out, Wall Street! The Private Equity Titans Are at It Again!
In a jaw-dropping move that’s sending shockwaves through the financial world, Blackstone Group has officially put First Eagle Investment Management up for grabs! That’s right—this massive asset is hitting the market for a staggering $4 billion!
Where Did It All Start?
Blackstone and their pals at Corsair Capital, who snagged First Eagle for $4 billion back in 2015, are powering up the sell-off machine and have recruited Morgan Stanley to work their magic on the sale! What an explosive twist for the money movers in the asset management sector!
But Wait, There’s More!
First Eagle has been raking in around $500 million a year before interest, taxes, depreciation, and amortization (EBITDA)! Investors are salivating at the thought of a valuation that could soar beyond $4 billion! This legendary firm isn’t just any run-of-the-mill investment house—it has a glorious 161-year history that dates back to financing local brewers in Dresden, Germany!
A Tale of Escape and Ascendancy!
Picture this: In the late 1930s, the founding family fled the horrors of Nazi Germany, making their way to New York City, where they established a powerful financial footprint on Wall Street! First Eagle was not only a refuge but also a training ground for financial moguls, notably the iconic George Soros!
Private Equity Frenzy!
This sale comes amid a tsunami of activity in the asset management scene. While CVC is busy delisting UK asset manager Hargreaves Lansdown for about $7 billion, over in the U.S., heavyweight investment advisers like Fisher Investments and Creative Planning are selling minority stakes for valuations through the roof!
Growth Under Fire—or Not?
Although First Eagle has only seen modest growth under Blackstone and Corsair, with assets climbing about 50% since 2015, they’re not sitting idle! The firm has made some bold moves, diving into private credit acquisitions. What’s next? The speculation is rampant as investors are left on the edge of their seats!
In Case You Missed It!
So, what’s the verdict on First Eagle? In the wild world of private equity, this storied firm is becoming the next hot ticket—the urgency is real! Blackstone is mum on the chatter, while Corsair’s silence leaves the rumormongers to drool over the possibilities. The clock is ticking, and this high-stakes drama is unfolding in real-time!
Stay Tuned, Investors—This is Just the Beginning!
photo credit: www.ft.com
