We are advising Napier Park on the transaction

Davis Polk is advising Napier Park Global Capital in connection with its sale to First Eagle Investments. The transaction is expected to close in the second half of 2022, subject to regulatory approvals and the satisfaction of other customary closing conditions. Financial terms of the transaction were not disclosed.

Napier Park is a leading alternative credit manager with approximately $18.7 billion in assets under management as of December 31, 2021, predominantly for institutions through credit funds, U.S. and European collateralized loan obligations, and real assets. First Eagle is an independent, privately owned investment firm with approximately $110.5 billion in assets under management as of December 31, 2021.

The Davis Polk corporate team includes partners Louis Goldberg and Evan Rosen and associate Christine Choi. Partner Adam Kaminsky is providing executive compensation advice. Partner Ethan R. Goldman and associate Ben Levenback are providing tax advice. Partner Gregory S. Rowland and counsel Aaron Gilbride are providing investment management advice. Counsel Jonathan B. Brown is providing finance advice. Members of the Davis Polk team are based in the New York and Washington DC offices.