First Eagle Investment Management LLC has agreed to acquire THL Credit Advisors LLC.

Upon completion of the acquisition, First Eagle's alternative credit platform will represent approximately $23 billion in assets under management and advisement. THL Credit Advisors is the adviser for THL Credit Senior Loan Fund.

The deal is expected to close in the first quarter of 2020, subject to regulatory approvals and other customary closing conditions.

BofA Securities was financial adviser to First Eagle and Goodwin Procter was its legal counsel. Sandler O'Neill & Partners LP was THL Credit's financial adviser, and legal counsel was provided by Weil Gotshal & Manges LLP and Winston & Strawn LLP.