First Eagle Alternative Credit LLC (NASDAQ: FCRD) has appointed collateralized loan obligation (CLO) industry expert Nishil Mehta to help in the expansion of the company’s private fund CLO debt and equity strategy. Currently, Mehta is the Managing Director and Product Specialist in the company’s Tradable Credit Team.
Mehta to help expand First Eagle’s private fund CLO
Before joining First Eagle, Mehta spent more than ten years working as a portfolio manager of an asset management company’s CLO investment. He oversaw more than $2 billion in CLO equity investment and helped raise more than $500 million on CLO securities for a closed-end fund.
First Eagle’s Business Development Head, Michael Herzig, said, “We are excited to welcome Nishil to First Eagle to work alongside Bob Hickey and Tracey Jackson in this important business segment. Nishil will contribute to the growth of our existing institutional CLO debt and equity investing platform, which is a complimentary product to our CLO management and bank loan total return businesses.”
First Eagle announces retirement of Terry Olson
Recently, the company announced the retirement of its Chief Financial Officer and Chief Operating Officer Terry Olson at the end of June 2021. As a result, the company implemented a plan, including searching for a replacement of the CFO and transition of operating responsibilities.
Chris Flynn, President of First Eagle Alternative Credit, said, “On behalf of everyone at First Eagle, I extend our heartfelt gratitude to Terry for his many years of service and important contributions to our growth and success. He has helped make us a better business, a more cohesive team, and played a vital role as we joined forces with First Eagle over the last year. We appreciate his commitment to assuring a seamless transition to his successor and wish him well in the future.”