Amundi and First Eagle plan new private credit fund
Amundi and First Eagle Investment Management are preparing to launch another private credit fund which will be available to individual investors.
According to regulatory filings in Luxembourg, the First Eagle Private Credit Fund has been registered as a UCI Part II fund. This means that it qualifies as alternative investment fund and can be sold to all types of investors.
Guidance from the Association of the Luxembourg Fund Industry (ALFI) states that Part II funds that have appointed an EU alternative investments fund manager can market their shares, units or partnership interests via a specific passport to professional investors across the EU.
Read more: Amundi raises $436m from private markets for new sustainability fund
Amundi and First Eagle have a long history of collaboration on private credit funds, launching their first joint fund – the First Eagle Amundi International Fund IU – in 1996. This will be their first private credit offering aimed at non-institutional investors.
Amundi has been increasing its exposure to the private credit sector recently with a number of acquisitions, mergers and investments.
Earlier this year, the firm’s assets under management rose to an all-time high of €2.156tn (£1.82tn) just before announcing its merger with investment manager Victory Capital. And in February, Amundi announced plans to acquire private markets asset manager Alpha.
Read more: Amundi and Victory Capital reach agreement on merger
