{
  "crd_number": 150900,
  "slug": "first-eagle-alternative-credit-llc-boston-ma-150900",
  "primary_business_name": "FIRST EAGLE ALTERNATIVE CREDIT, LLC",
  "legal_name": "FIRST EAGLE ALTERNATIVE CREDIT, LLC",
  "dbas": [],
  "city": "Boston",
  "state": "MA",
  "country": "United States",
  "cbsa_code": "14460",
  "metro": {
    "cbsa_code": "14460",
    "common_name": "Boston",
    "msa_name": "Boston-Cambridge-Newton, MA-NH",
    "path": "/advisors/ma/boston"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2010-04-21",
  "years_registered": 16,
  "period": "2026-10-01",
  "filing_date": "2026-06-30",
  "carried_forward": false,
  "raum_total": 12562376360.0,
  "raum_discretionary": 12559312070.0,
  "raum_non_discretionary": 3064290.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 79,
  "advisory_employees": 42,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "state_municipal": {
      "raum": 3064290.0,
      "count": null,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 45015756.0,
      "count": null,
      "fewer_than_5": true
    },
    "investment_companies": {
      "raum": 781391338.0,
      "count": 1
    },
    "other_investment_advisers": {
      "raum": 715380194.0,
      "count": null,
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 10350526512.0,
      "count": 70
    },
    "business_development_companies": {
      "raum": 651820000.0,
      "count": 1
    },
    "sovereign_wealth_foreign_official": {
      "raum": 15178270.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CT",
    "IL",
    "MA",
    "NY",
    "TX"
  ],
  "websites": [
    "https://firsteagle.com/FEAC",
    "https://linkedin.com/company/first-eagle-investment-management",
    "https://youtube.com/@FirstEagleInvestments"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/150900",
  "city_as_filed": "BOSTON",
  "url": "https://advisorcensus.com/firm/first-eagle-alternative-credit-llc-boston-ma-150900",
  "display_name": "First Eagle Alternative Credit, LLC",
  "summary": "First Eagle Alternative Credit, LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 2010, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 30, 2026.",
  "citation": "AdvisorCensus. First Eagle Alternative Credit, LLC (CRD 150900): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is First Eagle Alternative Credit, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), First Eagle Alternative Credit, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other."
    },
    {
      "q": "Where is First Eagle Alternative Credit, LLC located?",
      "a": "First Eagle Alternative Credit, LLC's principal office is in Boston, MA, according to its Form ADV; the July 2026 filing also lists 2 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is First Eagle Alternative Credit, LLC registered with the SEC or a state?",
      "a": "First Eagle Alternative Credit, LLC is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 150900."
    },
    {
      "q": "How much does First Eagle Alternative Credit, LLC manage?",
      "a": "First Eagle Alternative Credit, LLC reports $12,562,376,360 in regulatory assets under management in its Form ADV filing dated June 30, 2026 (100% discretionary)."
    },
    {
      "q": "How have First Eagle Alternative Credit, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for First Eagle Alternative Credit, LLC: Regulatory assets under management: $20,174,538,934 in the October 2021 data and $12,562,376,360 in the October 2026 data, down 38%. Total employees: 114 in October 2021 and 79 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does First Eagle Alternative Credit, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (70); investment companies (1); business development companies (1)."
    },
    {
      "q": "Which custodians does First Eagle Alternative Credit, LLC use?",
      "a": "First Eagle Alternative Credit, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of America, Bank of New York Mellon, Northern Trust Corporation and Wells Fargo Bank, N.A. as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does First Eagle Alternative Credit, LLC report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/150900"
    },
    {
      "q": "What changed in First Eagle Alternative Credit, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Item 11 disclosure answers changed: 0 yes answers, previously 4 (now no: 11.C(1), 11.C(2), 11.C(4), 11.C(5)). Employees performing advisory functions went from 55 to 42. Regulatory assets under management went from $16,820,719,677 to $12,562,376,360 (-25%). Changed its office addresses in New York, NY. Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 20174538934.0,
      "total_employees": 114,
      "filing_date": "2021-07-29"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 20976810833.0,
      "total_employees": 128,
      "filing_date": "2022-08-30"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 19794402175.0,
      "total_employees": 119,
      "filing_date": "2023-05-09"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 19938589986.0,
      "total_employees": 123,
      "filing_date": "2024-06-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 16820719677.0,
      "total_employees": 118,
      "filing_date": "2025-05-08"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 12562376360.0,
      "total_employees": 79,
      "filing_date": "2026-06-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Item 11 disclosure answers changed: 0 yes answers, previously 4 (now no: 11.C(1), 11.C(2), 11.C(4), 11.C(5)).",
        "Employees performing advisory functions went from 55 to 42.",
        "Regulatory assets under management went from $16,820,719,677 to $12,562,376,360 (-25%).",
        "Changed its office addresses in New York, NY.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Bank of America",
      "name_as_filed": "BANK OF AMERICA",
      "affiliated": false
    },
    {
      "name": "Bank of New York Mellon",
      "name_as_filed": "BANK OF NEW YORK MELLON",
      "affiliated": false
    },
    {
      "name": "Northern Trust Corporation",
      "name_as_filed": "NORTHERN TRUST CORPORATION",
      "affiliated": false
    },
    {
      "name": "Wells Fargo Bank, N.A.",
      "name_as_filed": "WELLS FARGO BANK, N.A.",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/first-eagle-alternative-credit-llc-boston-ma-150900.md",
  "clients": [
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 781391338.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 651820000.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 70,
      "fewer_than_5": false,
      "raum": 10350526512.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 3064290.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": null,
      "fewer_than_5": true,
      "raum": 715380194.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": null,
      "fewer_than_5": true,
      "raum": 45015756.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": null,
      "fewer_than_5": true,
      "raum": 15178270.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/150900",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}