Blackstone puts First Eagle up for sale for $4bn

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Blackstone Group was the first Eagle investment management for sale for more than $ 4 billion to unload large shares, which US private capital group has one decade.

Blackstone And Corsair, the capital, was purchased at the first 4 billion Eagle eagle, rented Morgan Stanley to manage the sales process, people presented in that issue.

The two purchasing groups are trying to capitalize on the wave of actions in the field of asset management, as PE buyers and financial services are accumulated in fees-based financial business.

The first Eagle causes about $ 500 million annually, taxes, taxes, wear and depreciation, say the people say. Business is expected to bring more than $ 4 billion worth, they added.

Blackstone and Corsair financed their acquisition with levers and dividends from the first Eagle, taking into account the price of more than $ 4 billion sales positive, but proves.

The 161-year-old company, called Arnod and S. Blacker Holdings, created in Dresden to finance a number of local local businesses, including brewers.

When the Founder of the First Eagle escaped from Nazi Germany and the late 1930s moved to New York, they built a great presence in Wall Street. The company is best known as an early workout land for George Soros.

2007 Blackstone and Corsair Capital have taken on company in the 2015 deal.

The sale of the first eagle on Blackstone and Corsair was a part of early growth Private own capital Assumes of asset managers and independent investment advisory groups, which have been estimated in industry.

PE companies had a big deal last year. CVC is in the process of repaying the Great Britain asset manager Hargreaves lansdown During the US Investment Advisers, FISHER investments and creative planning have sold minorities to private capital investors, exceeding estimates exceeding $ 12 billion.

The first Eagle was grown only under the ownership of Blackstone and Corsair, its assets have been rising about 50 percent since 2015.

The first Eagle said that the company did not comment on the news or speculation. Blackstone refused to comment. Corsair did not respond immediately to emails looking for a comment.