Goodwin Procter attorneys recently advised TA Associates on the sale of its investment in First Eagle Investment Management. The sale was disclosed in conjunction with First Eagle’s announcement that Blackstone and Corsair Capital had made majority long-term investments in the company. The transaction is expected to close in the fourth quarter of 2015. Financial terms were not disclosed.
First Eagle Investment Management, headquartered in New York City, is an independent, privately-held asset management firm with approximately $100 billion in assets under management (as of June 30, 2015) on behalf of institutional and individual clients, and a heritage dating back to 1864. First Eagle Investment Management is the adviser to First Eagle Funds and its investment capabilities include equity, fixed income and multi-asset strategies.
TA Associates is a global growth private equity firm. The firm has invested in more than 450 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. TA was founded in 1968.
Additional information regarding the transaction is available in the First Eagle press release.