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Prior to joining First Eagle, Mehta spent over 10 years as the portfolio manager for an asset management firm's CLO investments with responsibility for capital raising for the firm's registered funds where he oversaw over $2.0 billion of CLO equity investments with retail investors and helped raise over $500 million for a closed-end fund focused on CLO securities. Nishil will be based at First Eagle's New York office and will report directly to Michael Herzig, Head of Business Development at First Eagle.

"We are excited to welcome Nishil to First Eagle to work alongside Bob Hickey and Tracey Jackson in this important business segment," said Herzig. "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. We believe the CLO market will continue to grow and secondary CLO equity is a compelling product that can consistently provide investors mid-teen returns in a historically low-yield environment."

First Eagle and its affiliates now manage over 35 broadly syndicated and middle market CLOs totaling approximately $16 billion in AUM. In 2020, the firm closed over $700 million in broadly syndicated and middle market CLOs.

"I am excited to join First Eagle Alternative Credit's platform," said Mehta. "There is a significant opportunity to leverage the extensive CLO management business as well as the firm's credit analyst team who can provide invaluable insight in analyzing the underlying credits of CLOs to enhance returns."