William Hench

William (Bill) Hench is the Head of the Small and SMID Cap Team and serves as a Portfolio Manager at First Eagle Investment Management, LLC, based in New York, NY. Having joined First Eagle in April 2021, he is responsible for overseeing the firm’s small cap strategies, managing the First Eagle Small Cap Opportunity Fund, and leading the dedicated team focused on identifying value and growth opportunities in the small-cap sector. His work centers on actively researching and investing in small and SMID cap U.S. equities, with a track record of sourcing underappreciated companies facing short-term challenges but possessing long-term potential.

Prior to his current role, Hench spent 18 years as Portfolio Manager of the Small Cap Opportunistic Value Strategy at Royce Investment Partners, where he developed extensive expertise in value-oriented research and portfolio management for small-cap stocks. Earlier in his career, he worked in US equity sales at JPMorgan Chase, further broadening his knowledge of institutional equity markets and investment strategy.

Hench holds a Bachelor of Business Administration in Accounting from Adelphi University, grounding his investment approach in rigorous financial analysis and accounting discipline. Recognized for his skill in uncovering hidden opportunities within U.S. small-cap companies, he is regarded as a leading figure in value equity investing across sectors including industrials, consumer services, and manufacturing.