M&A Deal Summary

Genstar Capital Acquires First Eagle Investment Management

On March 3, 2025, private equity firm Genstar Capital acquired financial services company First Eagle Investment Management from The Blackstone Group, Corsair Capital and Sofina

Acquisition Highlights
  • This is Genstar Capital’s 12th transaction in the Financial Services sector.
  • This is Genstar Capital’s 104th transaction in the United States.
  • This is Genstar Capital’s 8th transaction in New York.

M&A Deal Summary

Date 2025-03-03
Target First Eagle Investment Management
Sector Financial Services
Buyer(s) Genstar Capital
Sellers(s) The Blackstone Group
Corsair Capital
Sofina
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
BofA Securities
UBS Investment Bank
Jefferies (Financial)
Simpson Thacher & Bartlett (Legal)

Target

First Eagle Investment Management

New York, New York, United States
First Eagle Investment Management is an asset management firm which manages assets on behalf of institutional and individual clients. With the core purpose of providing prudent stewardship of its clients’ assets, the Firm is focused on fundamental, flexible and benchmark-agnostic investing, including strategies which seek to provide clients with downside protection. First Eagle Investment Management was founded in 1864 and is based in New York, New York.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 112 of 112
Sector: Financial Services M&A 12 of 12
Type: Secondary Buyout M&A Deals 52 of 52
State: New York M&A 8 of 8
Country: United States M&A 104 of 104
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-08 Aperture

Arlington, Texas, United States

Aperture is a full-service provider of forensic expertise and litigation dispute support services in the areas of accident reconstruction, biomechanical engineering, construction, economic damages, human factors, intellectual property, premises liability, and workplace safety. Aperture was founded in 1969 and is based in Arlington, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-11 OEC

Fairlawn, Ohio, United States

OEC is a provider of software and data solutions that help original equipment manufacturers (OEMs), franchised dealerships, and repairers manage aftermarket parts distribution, supply-chain workflow, e-commerce, and business intelligence in the automotive aftermarket ecosystem. OEC was founded in 2000 and is headquartered in Fairlawn, Ohio, United States.

Sell -

Seller(S) 3

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 184 of 193
Sector: Financial Services M&A 11 of 12
Type: Secondary Buyout M&A Deals 24 of 28
State: New York M&A 13 of 14
Country: United States M&A 111 of 117
Year: 2025 M&A 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-03 CMIC

Minato-ku, Japan

CMIC is a contract research organization (CRO) that provides comprehensive end-to-end services across clinical trial phases and therapeutic areas. It partners with pharmaceutical and biotechnology companies to help develop medicines and bring them to the market faster and more efficiently. CMIC was founded in 1992 and is based in Minato-ku, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-12 Beacon

New York, New York, United States

Beacon is a cloud-based platform for quant development that enables users to build custom trading and risk management applications. The integrated development environment and a web application framework make developing applications faster and easier. Beacon was founded in 2014 and is based in New York, New York.

Sell -
SELLER

Corsair Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 9.9B USD
Size Mega
Type Sector Focused
DESCRIPTION

Corsair Capital is a private investment firm focused on investments in the financial services industry. Specific areas of interest include banks, insurance companies, credit card specialists, asset managers, private banks, mortgage lenders, financial technology firms, and finance companies. The Firm looks to invest between $50 to $100 million in companies with proven business models and 'meaningful' barriers to entry. Corsair will consider opportunities around the world, including the US, Europe, Latin America, and Asia. Prospective transactions include recapitalizations, growth capital financings, management buyouts, and special/distressed situations. Corsair Capital was originally established in 1992 and is based in New York City. Corsair has an additional office in London.


DEAL STATS #
Overall 14 of 14
Sector: Financial Services M&A 7 of 7
Type: Secondary Buyout M&A Deals 2 of 2
State: New York M&A 1 of 1
Country: United States M&A 6 of 6
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-03 Notemachine

Powys, United Kingdom

Notemachine is an Independent ATM operator with over 9,000 cash machines throughout the UK. NoteMachine uses its own cash center, engineering, and processing infrastructure to provide an end-to-end solution for independent retailers, national accounts, and financial institutions. Notemachine is based in Powys, United Kingdom.

Sell $179M
SELLER
DESCRIPTION

Sofina SA is a family controlled, publicly traded investment firm focused on making long-term, direct minority investments in leading companies, investing in third party growth and venture funds, and providing equity investments in fast growing companies. The Firm's direct investment group will consider opportunities throughout Europe where it can commit €100 to €300 million per transaction in companies valued up to €4.5 billion. Sofina SA dates back to 1898 and is headquartered in Brussels.


DEAL STATS #
Overall 5 of 5
Sector: Financial Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-06 Biotech Dental

Salon-de-Provence, France

Biotech Dental is a designer and manufacturer of implants and dental prostheses, intraoral scanners, smile analysis software, custom-made transparent gutters manufactured using innovative digital manufacturing processes and related training programs. Biotech Dental was founded in 1987 and is based in Salon-de-Provence, France.

Sell -