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Private fund adviser · Boston, MA

First Eagle Alternative Credit, LLC

SEC-registered investment adviser · CRD 150900 · SEC 801-71201

At a glance

First Eagle Alternative Credit, LLC is an SEC-registered investment adviser based in Boston, Massachusetts, with $12.6 billion in regulatory assets under management as of its Form ADV filed June 30, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 522nd of 4,686 private fund advisers and 1,176th of 17,210 SEC-registered advisers by assets.

Main office 617-848-2577firsteagle.comLinkedInAs filed on Form ADV

Regulatory AUM
$13B
Rank among private fund advisers
#522 of 4,686
Rank among all SEC RIAs
#1,176 of 17,210
Rank in Massachusetts
#85 of 627
Clients
72
Accounts
81
Discretionary
100% of AUM
Employees
79
Advisory staff
42
Offices
3

Owners and executives on its Form ADV

Custody and brokerage

4 custodians

  1. BNY$14M83%
  2. Northern Trust$3M17%
  3. Wells Fargo$0M0%
  4. Merrill / Bank of America$0M0%

Other RIAs using BNYOther multi-custodian RIAs

Broker-dealer

Hybrid RIA

First Eagle Alternative Credit, LLC is a hybrid RIA: 4 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: FEF Distributors, LLC.

Its Form ADV brochure (filed March 2026) names FEF Distributors as the broker-dealer its advisers are registered with.

Certain employees of FEAC are also registered representatives and/or associated persons of FEF Distributors and are required to abide by the Code of Ethics and other policies of FEF Distributors.

Other hybrid RIAs

Who it serves

Client typeClientsRegulatory AUMShare
Pooled investment vehicles70$10B82%
Investment companies1$781M6%
Other investment advisers–$715M6%
Business development companies1$652M5%
Insurance companies–$45M<1%
Sovereign wealth funds and foreign official institutions–$15M<1%
State or municipal government entities–$3M<1%

Private funds

First Eagle Alternative Credit, LLC reports 70 private funds with $10B in gross assets: hedge funds, private equity funds, securitized asset funds, other private funds (Form ADV Item 7.B).

Disciplinary disclosures

First Eagle Alternative Credit, LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗

Services

  • Portfolio management for investment companies
  • Portfolio management for pooled investment vehicles
  • Portfolio management for businesses and institutions

How it’s paid

  • A percentage of assets under management
  • Performance-based fees
  • Other

Form ADV and brochures on the SEC’s adviser search ↗firsteagle.com ↗

AtlasMembers

The full record on First Eagle Alternative Credit, LLC

Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.

Assets, accounts, clients and staff, ten years of filings
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Growth over one, three and five years
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Rank against 898 peers of its type and size
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Owners and executives, with titles and stakes
4 namedLocked
Main office, fax and compliance officer
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Filing changes this year, with alerts
2Locked
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.

Background

Questions

How much does First Eagle Alternative Credit, LLC manage?

First Eagle Alternative Credit, LLC reports $12.6 billion in regulatory assets under management across 81 accounts, 100% of it on a discretionary basis, on its Form ADV filed June 30, 2026.

What kind of firm is First Eagle Alternative Credit, LLC?

First Eagle Alternative Credit, LLC is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets. It reports a bank or thrift among its related persons.

Who are First Eagle Alternative Credit, LLC’s clients?

By assets, its largest client types are pooled investment vehicles ($10.4 billion, 70 clients); investment companies ($781 million, 1 clients); other investment advisers ($715 million).

Does First Eagle Alternative Credit, LLC manage private funds?

Yes. It reports 70 private funds with $10.4 billion in gross assets, including hedge funds, private equity funds, securitized asset funds, other private funds.

Does First Eagle Alternative Credit, LLC have any disciplinary history?

First Eagle Alternative Credit, LLC reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.

Where these numbers come from

Every figure is First Eagle Alternative Credit, LLC’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-06-30), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.

Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →