Chris Flynn, president of First Eagle Alternative Credit, will leave the firm in early 2025, and effective immediately is now co-president alongside CIO Jim Fellows, according to a press release.
Fellows will become president but retain the CIO position, when Flynn departs. Both Flynn and Fellows now report to First Eagle Investments President and CEO Mehdi Mahmud. First Eagle Alternative Credit is the credit arm of First Eagle Investments.
As part of the transition, First Eagle Alternative Credit also announced the promotions of Michelle Handy, deputy CIO of direct lending, to CIO of direct lending, and Bob Hickey, deputy CIO of tradable credit, to CIO of tradable credit. Brian Murphy, head of capital markets, and Garrett Stephen, co-head of origination and structuring for direct lending, have been promoted to co-heads of origination. Ed Giordano, chief financial officer, is now also the firm's chief operating officer.
First Eagle Alternative Credit had approximately $21.7 billion in assets under management as of Dec. 31 across direct lending and broadly syndicated loans.