The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

Vistra
Hong Kong’s Vistra, a provider of essential business services, has just launched the Vistra Fund Solutions, focused on supporting Vistra’s fund manager clients with end-to-end services, and on realising the potential for growth with new customers across the globe.

Using the acquisition of Phoenix American Fund Administration and Transfer Agent business in 2024 as the catalyst, Vistra said it has transformed its fund offering into a global service model. Vistra Fund Solutions will deliver services across funds globally, powered by a proprietary technology platform that uses market-leading vendor systems.

The new global business proposition has been designed to deliver service and high-touch support to clients wherever they are in the world, the firm said in a statement. It is a global business proposition, available to the firm's fund manager clients in all parts of the world, including Asia, North America and Europe.

“The launch of Vistra Fund Solutions elevates Vistra’s position in the funds market and brings into sharper relief the value we offer our global clients,” Simon Webster, CEO of Vistra, said. “We already had a strong and powerful funds business with great people, strong capabilities and huge potential. Now it’s time to realise that potential by clarifying what makes Vistra Funds Solutions different and why we’re the natural partner of choice for fund administration and support anywhere in the world.”

Led by Abdel Hmitti, president of Vistra Fund Solutions, it provides a vertically-integrated proposition that offers products and services to support fund structures, and other related entities, ensuring a comprehensive approach across private equity, real estate, infrastructure, capital markets and aviation services. This single-source offering allows clients to focus on value creation for investors while being supported by dedicated professional teams.

“With this new proposition, we are laser-focused on optimizing our operations and investing in the business to better serve our clients’ needs and support their growth,” Hmitti added. “We have reorganized our service delivery to embed a client-centric service culture that is underpinned by a robust operating model and technology platform.”

First Eagle
The First Eagle Private Credit Fund has held its public offering.

The fund taps into First Eagle Investments’ alternative credit experience and approach to US direct lending. It provides income-oriented investors with monthly income by investing primarily in directly originated, senior secured first lien loans to US middle-market companies. 

The fund, which is structured as a perpetual, non-exchange-traded business development company, aims to provide investors with quarterly liquidity through a share repurchase program, at the discretion of the fund’s board of trustees, alongside the potential to benefit from the illiquidity premia typical of private assets, First Eagle said in a statement. 

“For US wealth clients seeking a differentiated source of current income and the potential for resilience across market cycles, the launch of the First Eagle Private Credit Fund comes at an opportune time,” Frank Riccio, head of US wealth solutions sales and strategic relationships at First Eagle, said. 

Senior members of First Eagle Alternative Credit manage the fund. They include Michelle Handy, chief investment officer of direct lending; Robert Hickey, chief investment officer; Larry Klaff, head of asset-based lending; and Garrett Stephen and Brian Murphy, co-heads of origination. FEAC’s credit investment team managed about $16 billion of investments in private loans as of December 31, 2024.

The investment strategy focuses on middle-market borrowers with annual earnings before interest, taxes, depreciation and amortization between $5 million and $50 million. The team will invest primarily in directly originated cash flow loans, directly originated asset-based loans, and club deals.