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PC · PRIVATE CREDIT

First Eagle Credit Opportunities Fund

First Eagle Investments · Multi-Sector Credit Interval Fund

Program Overview

Multi-Sector Credit Interval Fund
First Eagle Credit Opportunities Fund
Sponsor/Manager
Asset Class
Private Credit
Issuer
First Eagle Credit Opportunities Fund
Issuer Legal Structure
Delaware Statutory Trust
Program Life Structure
Evergreen
Target Leverage
Maximum 33% debt-to-total-assets Cap is 33 1/3% of Managed Assets. Debt sits at two SPVs (Ally $100M, J.P. Morgan $175M, SOFR-based), each secured by all SPV assets. Nil drawn at 6/30/2026; $96.65M (11.28% of Managed Assets) at 12/31/2025. No preferred shares.
Strategy Risk/Return Profile
—
Managing Broker-Dealer
Scale
2,183,351 Class A shares outstanding · 2,193,306 Class A-2 shares outstanding · 26,617,683 Class I shares outstanding
Minimum Investment
$2,500
Class A Shares (FECAX) · waivable
Strategy Overview

The prospectus states a primary objective of current income and a secondary objective of long-term risk-adjusted returns. Under normal conditions the Fund invests at least 80% of Managed Assets in below investment grade credit across four buckets: private corporate credit (direct and asset-based lending to lower middle market companies), specialty finance, structured credit and liquid credit, using a relative value approach. On September 4, 2025 the mandate was broadened to consumer and mortgage-related asset-based loans and structured credit, and the commitment to invest primarily in senior secured assets was removed; full repositioning is expected in the latter half of 2026.

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