First Eagle Alternative Capital
FCRW
New York Stock Exchange25.33
USD
-0.22
- -
CIK
0001464963
Return %
Stock
S&P500
1Y
- -
19.01
3Y
- -
65.48
5Y
0.12
72.20
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- DE United States of America
- IPO Date
- Oct 9, 2018
- CIK
- 0001464963
- Similar Companies
- Business
- First Eagle Alternative Capital BDC, Inc. operates primarily as a direct lender specializing in debt and equity investments in middle market companies. Its core products and services include originating and managing directly originated first lien senior secured loans, including unitranche loans; second lien secured loans; subordinated or mezzanine debt often with an associated equity component such as warrants, preferred stock, or options; high-yield bonds; private equity investments; and syndicated first lien secured loans. The firm targets investment transactions including growth financing, mezzanine, acquisition, market or product expansion, recapitalization, mature business financing, and change of control transactions in both sponsored and unsponsored issuers. It focuses on companies with annual revenues between $25 million and $500 million and EBITDA between $5 million and $25 million, often leading or solely investing in deals. Geographic operations span the U.S. with additional investments in non-U.S. companies. The fund also invests across multiple industries including outsourced business services, healthcare, financial services, retail, media, and consumer discretionary sectors. Headquartered in New York, the firm operates within the alternative credit industry and business segment. Recent major changes include the completion of a merger with Crescent Capital BDC in March 2023, creating a combined entity with over $1.6 billion in pro forma assets under management. Additionally, First Eagle Alternative Capital has seen its parent, First Eagle Investments, complete a majority investment acquisition by private equity funds managed by Genstar Capital in August 2025, a move aimed at accelerating growth and expanding investment capabilities globally while maintaining operational independence. This follows First Eagle Investments' 2022 acquisition of Napier Park Global Capital, a strategic transaction that significantly broadened its alternative credit capabilities and CLO footprint, particularly in US and European markets. These strategic initiatives underscore the firm's ongoing expansion in direct lending and alternative credit products. First Eagle Alternative Capital BDC was founded to address financing needs in the middle market and continues to operate with a focus on private debt and equity investments that provide flexible, senior secured financing solutions. It is externally managed and aligns its investment strategy with a risk-aware, benchmark-neutral approach. The fund does not invest in start-up companies or operationally distressed businesses, instead emphasizing stable, mid-sized companies with clear growth or restructuring paths. The company's latest strategic maneuvers position it strongly within the middle market financing landscape, supported by a broad array of debt instruments and equity-linked securities tailored for diverse corporate needs. The company operates as part of the broader First Eagle Investments group, which manages assets across equity, fixed income, alternative credit, and multi-asset strategies, totaling approximately $161 billion as of mid-2025. First Eagle Investments has a history of ownership transitions that include prior majority stakes held by Blackstone and Corsair, before the current majority ownership by Genstar Capital. The firm's headquarters is in New York City. Overall, First Eagle Alternative Capital BDC, Inc. is a leading alternative credit provider focused on direct lending in the middle market, offering a diversified suite of debt and equity products to support corporate financing needs, with an expanding footprint fueled by recent mergers and private equity investments enhancing its scale and capabilities.