Blackstone puts First Eagle on the market for $4bn- reports

First purchased in 2015

US private equity giant Blackstone has put First Eagle Investment Management up for sale for over $4bn in a deal that would see the alternative asset manager part with a firm it has owned since 2015.

According to reports from the Financial Times, Blackstone, together with Cosair Capital, another private equity firm involved in the First Eagle acquisition almost a decade ago, have hired Morgan Stanley to spearhead the sale process.  Blackstone readies IPOs for some of its largest portfolio companies Back in 2015, the private equity pair financed their roughly $4bn purchase with leverage and have pulled dividends from the $149bn First Eagle, with a potential sale expected to return a modest profit. New York-headquartered First Eagle has a history that stretches back to 1864, when...