FPA

Historically, the firm can trace its roots back to 1954. The firm originated out of Shareholders Management Company and the name of the adviser was changed to First Pacific Advisors in the 1970s. In 1991, the business was acquired by United Asset Management Corporation (UAM). UAM was acquired by Old Mutual plc (OM) in 2000 and, as a result of that transaction, the firm became a wholly owned subsidiary of OM. In 2006, the two principals and six key investment professionals of the firm exercised their option to separate from OM. Simultaneously, the firm registered as an investment adviser with the SEC under the name First Pacific Advisors, LLC. As a result of that transaction, the firm became completely independent and owned internally for the first time in its more than 50-year history. All of the existing staff and facilities were retained by the new adviser. On October 1, 2018, the firm converted from a Delaware limited liability company to a Delaware limited partnership and changed its name to First Pacific Advisors, LP. While the legal structure and name changed, the beneficial ownership and governance remained the same.