Business Wire

First Eagle Expands Offering of US Small Cap Strategy to Non-US Investors

Share

First Eagle Investments (“First Eagle”) today announced it has expanded its portfolio offerings to non-US investors through the launch of its US Small Cap strategy within First Eagle’s Irish UCITS platform. The sub-fund, which was seeded by First Eagle in February 2022, pursues an opportunistic small cap value strategy. It invests in companies that the portfolio management team believes are attractively valued and have the potential to benefit from a catalyst—such as new management, a more favorable business cycle, product innovation and/or margin improvement—that may drive a recovery in earnings growth.

The strategy is managed by First Eagle’s Small Cap team, which was formed in April 2021 with the hiring of Portfolio Manager Bill Hench, Associate Portfolio Managers Suzanne Franks and Rob Kosowsky, and Senior Research Analyst Adam Mielnik. All four were previously employed by Royce Investment Partners, where they managed the portfolios of a US mutual fund, a UCITS fund and a collective investment trust, with Hench listed as one of the portfolio managers since 2004. Subsequently, the Small Cap team added Trader/Analyst Mark Salamone and Analyst Connor Sheehy in October 2021 and July 2022, respectively.

“We believe skilled active managers can exploit the ample inefficiencies in the US small cap market to deliver differentiated investment solutions,” said Matthieu Louanges, Global Head of Institutional and International Wealth Management at First Eagle. “Bill and his team have been focused on the US small cap market for many years, and our London and Munich-based account management teams are pleased to offer existing and prospective clients access to this time-tested, value-oriented strategy through a UCITS structure.”

First Eagle’s US Small Cap strategy takes an opportunistic but disciplined approach to bottom-up portfolio construction, employing in-house fundamental research in an effort to identify companies that appear temporarily mispriced by the market due to inefficiently valued assets, turnaround potential, accelerating-but-overlooked earnings growth, or unacknowledged market leadership. True small cap specialists, the team typically holds 180 to 300 stocks—including microcap stocks with market capitalizations below $1 billion—in pursuit of broad diversification at the security level.

“Small cap stocks represent a particularly volatile and inefficiently priced segment of the US equity market,” said Hench. “However, these dynamics historically also have created opportunities for disciplined active managers to generate attractive long-term returns for investors through diversified portfolios of undervalued small cap names. We are excited to offer our expertise in this space to investors outside the US.”

The US Small Cap strategy is offered through a sub-fund of First Eagle’s Irish UCITS vehicle, with three types of share classes (retail, advisory and institutional) denominated in three currencies (US dollars, euros and British pounds). The UCITS fund currently is available for public offer and sale in Austria, Belgium, France, Germany, Ireland, Luxembourg, Netherlands, Portugal and Spain, and is available for eligible investors in Switzerland and the United Kingdom. First Eagle plans to register the UCITS fund for distribution in additional countries in the near future. This latest sub-fund joins First Eagle’s growing UCITS platform, which was established in May 2021 with the launch of a sub-fund offering its International Value (global excluding the US) strategy.

About First Eagle Investments

First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $101.6 billion in assets under management as of June 30, 2022. (On a pro forma basis to include the recent acquisition of Napier Park Global Capital, First Eagle’s total assets under management are approximately $121.1 billion as of that same date.) Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong emphasis on downside mitigation. With a heritage dating back to 1864, First Eagle has helped its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles—a tradition that is central to its mission today. The firm’s investment capabilities include equity, fixed income, alternative credit and multi-asset strategies. For more information on First Eagle, please visit www.firsteagle.com.

The total pro forma assets under management (AUM) represents the combined AUM of First Eagle Investments and Napier Park Global Capital as of June 30, 2022. It includes $1.5 billion of committed and other non-fee-paying capital from First Eagle Alternative Credit and $0.9 billion of committed and other non-fee-paying capital from Napier Park, inclusive of assets managed by Regatta Loan Management LLC. Pro forma results are for illustrative purposes only and are not actual performance results. The pro forma results reflect a business combination that had not yet taken place and may differ materially from actual performance results.

IMPORTANT INFORMATION FOR INVESTORS

This is a marketing communication. The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. This release does not constitute or contain an offer, solicitation, recommendation or investment advice with respect to the purchase of any sub-fund described herein or any security.

The investment vehicle referenced in this material has been established as an Irish collective asset-management vehicle with variable capital constituted as an umbrella fund with segregated liability between its sub-funds under the laws of Ireland (registered number 445369) (the “ICAV”). Prospective investors should carefully consider a sub-fund’s objectives, risks, charges, tax considerations and expenses and other relevant information before investing. For this and more information on the ICAV, please refer to the ICAV’s prospectus, the supplement for the sub-funds and the applicable KIIDs and read them carefully before you invest and before making any final investment decisions. This is not a contractually binding document; do not base any final investment decision on this communication alone.

An investment in a sub-fund involves risk; principal loss is possible. There is no guarantee a sub-fund’s investment objectives will be achieved. In respect of the US Small Cap strategy, investments in small and micro-size companies historically have been more volatile in price than larger company securities, especially over the short term. Positions in small and micro-size companies also may be more difficult or expensive to trade. Among the reasons for the greater price volatility are the less certain growth prospects of small and micro-size companies, the lower degree of liquidity in the markets for such securities, and the greater sensitivity of small and micro-size companies to changing economic conditions. Value investments present the risk of never reaching what may be believed to be their full market values or may decline in value.

More information on these risk considerations, as well as information on other risks to which the sub-fund is subject, such as liquidity, market, and investment strategy risks, are included in the ICAV’s prospectus.

The ICAV’s prospectus is available on the First Eagle website and www.fundinfo.com. The KIIDs can also be accessed on the First Eagle website and are available in one of the official languages of each of the EU Member States into which the sub-funds have been notified for marketing under the UCITS Directive 2009/65/EC.

Prospective investors should also consult their professional advisers as to the suitability of any investment in light of their particular circumstances and applicable citizenship, residence or domicile. The ICAV has been authorized in Ireland as a UCITS pursuant to the European Communities (Undertakings for Collective Investments in Transferable Securities) Regulation 2011, as amended.

Shares of the ICAV are only available for certain non-US persons in select transactions outside the United States, or, in limited circumstances, otherwise in transactions that are exempt from the registration requirements of the United States Securities Act of 1933, as amended, and such other US laws as may be applicable.

The ICAV currently is available for public offer and sale in Austria, Belgium, France, Germany, Ireland, Luxembourg, Netherlands, Portugal and Spain, and is available for eligible investors in Switzerland and the United Kingdom, in each case in accordance with applicable law.

The views expressed herein represent the opinions of First Eagle and are not intended as a forecast or guarantee of future results for any product or service.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media:
Mount and Nadler
Hedda Nadler
hedda@mountandnadler.com
212.759.4440

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Faster Recoveries, Improved Security: HTEC and G2 Risk Solutions Join Forces to Advance Bankruptcy Management28.3.2024 19:02:00 EET | Press release

HTEC, a global digital consulting, software engineering, and product development company, is announcing a strategic collaboration with G2 Risk Solutions (G2RS), the preeminent provider of end-to-end bankruptcy technology solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328622816/en/ HTEC & G2 Risk Solutions Partnership (Photo: Business Wire) Under the agreement, G2RS will engage HTEC to incorporate its leading-edge technology into G2RS’ premier bankruptcy management platform. As the creators of the most comprehensive national bankruptcy database and the first bankruptcy management portal, G2RS is an industry pioneer. By adding HTEC’s premium engineering to the G2RS technology stack, G2RS will offer new and innovative functionalities to help clients expedite financial recoveries, increase data protection, and reduce operational inefficiencies in the bankruptcy management life cycle. “We are thrilled to be a part o

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 18:00:00 EET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama28.3.2024 18:00:00 EET | Press release

After extensive renovations, the iconic Yokohama Museum of Art has reopened its doors to visitors from all over the world. The museum’s reopening paves the way to new and closer collaboration with international events in Yokohama. This extraordinary venue is the ideal setting for a one-of-a-kind gathering, in part, supported by the Yokohama Convention & Visitors Bureau (hereinafter YCVB). The Yokohama Museum of Art Founded in 1989, the Yokohama Museum of Art collects over 14,000 works of art that reflect the many facets of life in Yokohama—past, present, and future. The reopening of the museum coincides with the Yokohama Triennale, an international exhibition featuring contemporary artists whose decentralized exhibits turn the entire metropolis into an art museum. The 8th Yokohama Triennale is being held from March 15 to June 9, 2024, with the Yokohama Museum of Art being a pivotal venue for the exhibition. With the museum firmly back on the map as Yokohama’s leading artistic venue, YC

Eight new sustainability-themed experiences—exclusive to Yokohama—for convention participants28.3.2024 18:00:00 EET | Press release

In a survey conducted by Yokohama Convention & Visitors Bureau (hereinafter YCVB), many convention attendees expressed particular interest in Yokohama’s culture, sightseeing spots, and local cuisine. In response, YCVB has developed eight new Yokohama Tours for event attendees to enjoy during their free time in Yokohama, keeping in line with our ethos of sustainability. Noge Area Bar-Hopping Tour, complete with guide Known affectionately by locals as Yokohama’s kitchen, Noge is a bustling nightlife spot that is home to over 600 izakaya (Japanese-style pubs). A knowledgeable local guide will lead participants to all the hidden gems in Noge, where they can indulge in distinctive, delicious pub-style food and drink. With easy on-foot accessibility, participants can rest assured this fun night out won’t impact their carbon footprint. Soto Zen Tour of Sojiji, head temple of the Soto Zen school As a prominent Zen sect in Japan, Soto Zen provides one of the best Zen wellness experiences. Durin

Nordson EFD Releases New 3-Axis Automated Fluid Dispensing Systems28.3.2024 17:00:00 EET | Press release

Nordson EFD , a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer is proud to announce the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305726899/en/ The GV Series offers market-leading dimensional positional accuracy and deposit placement repeatability. (Photo: Business Wire) The new GVPlus automated fluid dispensing solution offers improved repeatability, bigger payloads with simplified setup requirements, and superior vision capabilities. Repeatability is now best-in-class at 8 μm, improving repeatability to ±0.008 mm. Setting up the robot is easier due to a new dual mounting flange that enables a tool payload of up to 4.5 kg (10 lbs). When paired with the working area of 400 mm x 400

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye