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First Eagle Alternative Capital BDC (FCRD)

Company Profile
First Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) is a closed-end management investment company that has elected to be treated as a business development company under the 1940 Act. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies. The Company is a direct lender to middle market companies and invests primarily in directly originated first lien senior secured loans, including unitranche investments. In certain instances, the Company also makes second lien secured loans and subordinated or mezzanine, debt investments, which may include an associated equity component such as warrants, preferred stock or other similar securities and direct equity co-investments. The Company targets investments primarily in middle market companies with annual EBITDA generally between $5 million and $25 million. The Company is headquartered in Boston, with additional origination teams in Chicago, Dallas, Los Angeles and New York. The Company’s investment activities are managed by First Eagle Alternative Credit, LLC (the “Advisor” or the “Adviser”), an investment adviser registered under the Investment Advisers Act of 1940. For more information, please visit www.feac.com.
First Eagle Alternative Capital BDC logo

Company profile

Ticker
FCRD, FCRX
Exchange
NASDAQ
Website
investor.feacbdc.com/
CEO
Christopher Flynn
Employees
Incorporated
Delaware
Location
Massachusetts
Fiscal year end
Dec 31
Sector
Finance and Insurance > Securities and Commodity Exchanges
Former names
THL Credit, Inc.
SEC CIK
0001464963
Corporate docs
Articles of Incorporation & Bylaws
Underwriting Agreements
Plans of Reorganization
Indentures
Material Contracts & Credit Agreements
Subsidiaries Lists
Subsidiaries
First Eagle Alternative Capital Holdings ...
SEC advisor number
801-73374
FINRA CRD number
161293
AUM ?
$3.12 mm (as of 30 Aug 22)
Accounts
2 (as of 30 Aug 22)
Employees
128 (63 investment advisory or research)
Address
First Eagle Alternative Capital BDC
500 BOYLSTON STREET
SUITE 1250
BOSTON
MA 02116
Phone
(800) 450-4424
Brochures
  • First Eagle Alternative Capital BDC, Inc. (30 Aug 22)

FCRD stock data

Ownership

Fund structure AUM Fund type
First Eagle Alternative Capital BDC, Inc. $3.12 mm
First Eagle Greenway Fund II LLC $2.94 mm Other Private Fund
Latest filings (excl ownership)
View all
DEFM14A
Proxy related to merger
20 Jan 23
425
Business combination disclosure
14 Nov 22
10-Q
2022 Q3
Quarterly report
8 Nov 22
8-K
First Eagle Alternative Capital BDC Reports Third Quarter 2022 Financial Results and Declares a Dividend of $0.11 Per Share
8 Nov 22
425
Business combination disclosure
5 Oct 22
425
Business combination disclosure
4 Oct 22
425
Business combination disclosure
4 Oct 22
425
Business combination disclosure
4 Oct 22
8-K
Entry into a Material Definitive Agreement
4 Oct 22
10-Q
2022 Q2
Quarterly report
9 Aug 22
Transcripts
View all
FCRD
Earnings call transcript
2022 Q3
9 Nov 22
FCRD
Earnings call transcript
2022 Q2
10 Aug 22
FCRD
Earnings call transcript
2022 Q1
14 May 22
FCRD
Earnings call transcript
2021 Q4
4 Mar 22
FCRD
Earnings call transcript
2021 Q3
5 Nov 21
FCRD
Earnings call transcript
2021 Q2
6 Aug 21
FCRD
Earnings call transcript
2021 Q1
7 May 21
FCRD
Earnings call transcript
2020 Q4
5 Mar 21
FCRD
Earnings call transcript
2020 Q2
7 Aug 20
Latest ownership filings
View all
SC 13G/A
Fiera Capital Corp
17 Jan 23
SC 13D/A
First Eagle Holdings, Inc.
5 Oct 22
4
Robert J. Hickey
17 Mar 22
SC 13G/A
COOPERMAN LEON G
14 Feb 22
SC 13G
RIVERNORTH CAPITAL MANAGEMENT, LLC
14 Feb 22
SC 13G/A
Fiera Capital Corp
4 Feb 22
4
Christopher J. Flynn
6 Dec 21
3
Robert J. Hickey
1 Dec 21
3
Edward J. Giordano
27 Sep 21
4
Sabrina Rusnak-Carlson
11 Aug 21

Financial summary

Financial statements Chart FCRD financial data
Quarter (USD) Sep 22 Jun 22 Mar 22 Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Financial data from company earnings reports.

Institutional ownership, Q3 2022

FCRD institutional ownership history Ownership history
23.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 37 33 +12.1%
Opened positions 8 6 +33.3%
Closed positions 4 6 -33.3%
Increased positions 4 9 -55.6%
Reduced positions 13 8 +62.5%
13F shares Current Prev Q Change
Total value 19.72 mm 27.78 mm -29.0%
Total shares 6.89 mm 7.86 mm -12.3%
Total puts 0.00 0.00
Total calls 0.00 0.00
Total put/call ratio – – –
Largest owners Shares Value Change
Rivernorth Capital Management 1.98 mm $5.67 mm -2.9%
Fiera Capital 764.95 k $2.19 mm -48.3%
Pettinga Financial Advisors 610.12 k $1.75 mm -0.1%
Skandinaviska Enskilda Banken AB 559.58 k $1.60 mm -38.5%
Wealthcare Advisory Partners 479.34 k $1.37 mm +2.0%
MS Morgan Stanley 353.12 k $1.01 mm -3.8%
Fort Washington Investment Advisors 346.95 k $992.00 k 0.0%
BEN Franklin Resources 318.42 k $911.00 k 0.0%
Almitas Capital 237.10 k $678.00 k NEW
United Capital Financial Advisers 208.79 k $597.00 k 0.0%
Largest transactions Shares Bought/sold Change
Fiera Capital 764.95 k -715.35 k -48.3%
Skandinaviska Enskilda Banken AB 559.58 k -350.00 k -38.5%
Almitas Capital 237.10 k +237.10 k NEW
Virtus ETF Advisers 0.00 -78.24 k EXIT
Rivernorth Capital Management 1.98 mm -58.82 k -2.9%
Millennium Management 18.24 k +18.24 k NEW
Gilman Hill Asset Management 0.00 -15.00 k EXIT
MS Morgan Stanley 353.12 k -14.14 k -3.8%
HighTower Advisors 50.84 k +13.50 k +36.2%
MKFCF Mackenzie Financial 176.68 k -12.58 k -6.6%
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

FCRD insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Mar 22 Hickey Robert J. Common Stock Buy Acquire P No No 4.29 1,814 7.78 k 72,470
3 Dec 21 Flynn Christopher J. Common Stock Buy Acquire P No No 4.74 12,500 59.25 k 166,748
2 Dec 21 Flynn Christopher J. Common Stock Buy Acquire P No No 4.74 12,500 59.25 k 153,978
10 Aug 21 Rusnak-Carlson Sabrina Common Stock Sell Dispose S No No 4.73 8,200 38.79 k 13,090
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro
First Eagle Alternative Q3 EPS $0.13 Beats $0.11 Estimate, Sales $8.88M Beat $8.69M Estimate
8 Nov 22
First Eagle Alternative (NASDAQ:FCRD) reported quarterly earnings of $0.13 per share which beat the analyst consensus estimate of $0.11 by 18.18 percent. This is a 18.18 percent increase over earnings of $0.11 per share
Earnings Scheduled For November 8, 2022
8 Nov 22
Companies Reporting Before The Bell • Adtran (NASDAQ:ADTN) is likely to report quarterly earnings at $0.18 per share on revenue of $330.39 million.

Press releases

From Benzinga Pro
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates SAFE, LBAI, FCRD, MYOV
26 Jan 23
NEW YORK, Jan. 26, 2023 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties
FIRST EAGLE ALTERNATIVE INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of First Eagle Alternative Capital BDC, Inc. - FCRD
25 Jan 23
NEW ORLEANS, Jan. 25, 2023 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of First Eagle
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates FCRD, KNBE, IMRA
6 Dec 22
NEW YORK, Dec. 6, 2022 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties
ALERT: The M&A Class Action Firm Launches Legal Inquire Regarding the Merger – ELVT, FCRD, MNRL, IMRA
5 Dec 22
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates KNBE, ELVT, APEN, FCRD
1 Dec 22
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