Private Equity

First Eagle Investment Sells Stake In Curis Inc. At Steep Loss

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Jean-Marie Eveillard's firm loses as stock drops under a dollar. : First Eagle Investment Management axed 90.99% of its stake in Curis Inc. on Dec. 31 as the stock hovered near all-time low prices, the New York-based firm disclosed Wednesday. Abhay Deshpande is a portfolio manager for First Eagle Investment Management LLC. Photographer: Timothy Fadek/Bloomberg© 2011 Bloomberg Finance LP First Eagle’s sale of 4,532,448 shares of the cancer-treatment company shrank its equity ownership to 1.35% from 15.04%. The firm’s price per share sold was around 69 cents, the stock’s second-lowest level since it began trading in August 2000.

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