It remained as a fund management company under the control of the Kellen and Arnhold families until December 2015, when majority ownership was sold to the Blackstone Group LP and Corsair Capital LLC, led by Simpson Thacher & Bartlett.
In 1987 launched first U.S. registered mutual fund, the First Eagle Fund of America, with Michael Max Kellen as the portfolio manager, who subsequently became Vice Chairman and Co-CEO of Arnhold and S. Bleichroeder Holdings.
The asset management business, Arnhold & S Bleichroeder Advisors, was not part of the deal and continued to be operated through its parent, A&SB.
[6] In 2007, TA Associates bought a minority stake in First Eagle Investment Management from descendants of the founding family.
In December 2015, Blackstone and Corsair Capital bought majority control of the firm from TA Associates and descendants of the founding family.