Credit Analysts (Chicago or New York)

What we do :

First Eagle is an independent, privately owned investment management firm headquartered in New York with approximately $138 billion in assets under management (as of March 31, 2024).

Throughout a heritage that dates to 1864, the firm has sought to generate attractive real returns for our clients over the long term.

This tradition remains central to our mission today, guided by a set of core investment tenets that sustains our culture while also allowing philosophical autonomy among our talented portfolio management teams.

First Eagle's range of actively managed equity, fixed income, equity-oriented, public and private credit, multi-asset and alternative strategies reflect our dedication to disciplined and unconventional thinking, a global perspective and the long-term alignment of interests.

What drives us :

At First Eagle, clients come first, always. To deliver on this commitment, we nurture an environment that attracts, develops, and retains a talented, inclusive workforce.

We also aim to inspire each of our employees to do their life's best work with us and for our clients. We have built a culture that promotes equity, diversity, and respect, and holds every member of the organization to the highest standards of integrity and accountability.

Who we are looking for :

First Eagle is seeking two Credit Analysts to join the High Yield Muni Credit team, based in Chicago or New York. The successful candidates will be responsible for underwriting, credit monitoring, and portfolio management.

What you will do :

• Follow industry trends and developments in the Municipal sector, performing credit analysis and sourcing investment ideas
• Conduct research using a bottom-up fundamental analysis to build out a deep inventory of higher yielding tax-free Municipal bonds
• Have a comprehensive understanding of the higher yielding municipal sectors and appropriately weigh both quantitative and qualitative factors, evaluate complex deal structures, and identify unique opportunities
• Collaborate with other research team members to produce industry outlooks that influence and inform strategic and tactical investment opportunities
• Depending on experience, interest and opportunity, have coverage for some of the following sectors : land secured, transportation, charter schools, healthcare, project finance and industrial development revenue (IBD's)
• Build financial projections with a focus on debt sustainability and develop independent credit opinions for related coverage field
• Report and analyze potential changes in the tax policies and accounting treatment of municipal issuers
• Provide detailed investment recommendations to tax-exempt and taxable portfolio managers
• Perform in-depth credit analysis on individual securities, incorporating portfolio goals and relative value into all investment recommendations

The qualities you should have :

• Undergraduate degree in Finance, Economics, or related field; MBA or CFA a plus
• 8+ years of relevant investment experience
• Prior experience in Muni high yield asset classes and experience in either municipal or corporate distressed situations
• Solid understanding of fixed income math with a background in statistics or economics
• Excellent financial analysis and analytical skills
• Inquisitive mind, curiosity, and passion for financial markets
• Effective written and verbal communication skills
• Team player and proactive personality with a positive attitude

Base Salary range : $175,000 to $215,000. In addition, this role is eligible for an annual incentive bonus. Compensation may vary based upon, but not limited to - the individual's skills, experience, qualifications, and internal equity.

We value our people and offer a broad range of benefits. We provide generous paid time-off, medical / dental / vision healthcare plans, 401(k) retirement and profit-sharing plans, a flexible / hybrid work environment, "dress for the day" flexible work attire, and many more great benefits.

For more information, please refer to our First Eagle Benefits website.

First Eagle Investment Management, LLC (FEIM) is an Affirmative Action and Equal Opportunity Employer. Equal Employment Opportunity has been, and will continue to be, a fundamental principle at FEIM, where employment is based upon personal capabilities and qualifications without regard to race, color, religious belief, including dress and grooming practices, sex, sexual orientation, gender identity, gender expression, age, national origin, marital status, citizenship, disability, veteran status, pregnancy, breastfeeding or medical conditions related to breastfeeding, status as a victim of domestic violence, sexual assault, or stalking, or any other basis protected by applicable federal, state or local law, genetic information or characteristics (or those of a family member), or any other protected characteristic as established by law.