US Market News
1月前
First Eagle Investments Completes Acquisition of Diamond Hill Investment GroupApril 22, 2026 8:54 AM
Business Wire
Acquisition expands First Eagle’s footprint in traditional fixed income while complementing existing equity franchises.
Heather Brilliant will continue to lead Diamond Hill while assuming newly created role of Chief Operating Officer of First Eagle.
First Eagle Investments (“First Eagle”) today announced that it has completed the previously announced acquisition of Diamond Hill Investment Group, Inc. (Nasdaq: DHIL) (“Diamond Hill” or “Company”), a boutique investment management firm with a long-term, valuation-driven approach across multiple asset classes. The acquisition was first announced on December 11, 2025, and approved by Diamond Hill shareholders on March 3, 2026. Details of the transaction can be found below.
An independent, privately owned, fundamentally driven investment management firm, First Eagle’s investment capabilities span equity, fixed income, alternative credit and multi-asset categories. The acquisition of Diamond Hill markedly increases its footprint in traditional fixed income, which has been an area of significant growth for Diamond Hill in recent years. In addition, Diamond Hill’s US-focused multi-cap equity platform represents a strong complement to First Eagle’s existing Global Value and Small Cap franchises. Pro forma for the transaction, First Eagle’s total assets under management and assets under advisement were approximately $213 billion as of March 31, 2026.
“Serving clients is our primary purpose at First Eagle, and it drives our commitment to delivering differentiated investment solutions and exceptional service,” said Mehdi Mahmud, President and Chief Executive Officer of First Eagle. “Our acquisition of Diamond Hill brings together two firms with deeply rooted investment disciplines and a shared focus on clients’ long-term success. The combination preserves the distinct strengths of each organization while better positioning us to meet the evolving needs of clients.”
As a First Eagle Investments company, Diamond Hill will maintain its location in Columbus, Ohio, and there will be no changes to its investment philosophy or process. Heather Brilliant, who had been Chief Executive Officer, will continue to lead Diamond Hill while also assuming the newly created role of Chief Operating Officer of First Eagle. In this capacity, Brilliant will work closely with Mahmud to advance the firm’s organic and inorganic growth initiatives, and oversee its public markets operations and technology platform, its business optimization and integration efforts, and human resources.
“Heather is an exceptional leader with a proven ability to scale investment platforms while maintaining a strong investment culture,” said Mahmud. “Her expanded role reflects the importance of this integration and our confidence in her ability to help lead First Eagle’s next phase of growth.”
“As we begin this next chapter, our focus is on executing a thoughtful integration while building on the strengths of both organizations,” said Brilliant. “First Eagle’s global platform and resources combined with Diamond Hill’s consistent investment approach create a strong foundation for continued growth. The alignment between our teams positions us to move forward with clarity and discipline as we execute on our strategic priorities while continuing to deliver for our clients.”
Transaction Details
As previously announced, under the terms of the merger agreement, Diamond Hill shareholders are entitled to receive $175.00 per share in cash. With the completion of the transaction, Diamond Hill’s common shares have ceased trading and will no longer be listed on the Nasdaq exchange. Diamond Hill will maintain its location in Columbus, with no changes to its investment philosophy or process.
Advisors
Broadhaven Capital Partners served as financial advisor, Davis Polk & Wardwell LLP and Vorys, Sater, Seymour & Pease LLP served as legal advisors, and FGS Global served as strategic communications advisor to Diamond Hill in connection with the transaction. UBS Investment Bank served as financial advisor and Willkie Farr & Gallagher LLP served as legal advisor to First Eagle in connection with the transaction.
About First Eagle Investments
First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $186 billion in assets under management as of March 31, 2026. 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 strives to help clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles. The firm’s investment capabilities include equity, fixed income, alternative credit and multi-asset strategies. For more information, please visit www.firsteagle.com.
About Diamond Hill Investment Group
Diamond Hill, a First Eagle Investments company, invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline and client alignment. Diamond Hill's investment strategies include differentiated US and international equity, alternative long-short equity and fixed income. As of March 31, 2026, Diamond Hill's assets under management and assets under advisement totaled approximately $27 billion. For more information visit www.diamond-hill.com.
Total AUM shown in the first section above is pro forma to include the acquisition of Diamond Hill Capital Management, which closed on April 22, 2026. All figures related to assets under management (AUM) are preliminary figures based on management’s estimates and as such are subject to change. Some offerings may not be available in all jurisdictions. The total AUM listed above in the section entitled About First Eagle Investments represents the combined AUM and assets under advisement of First Eagle Investment Management, LLC, First Eagle Separate Account Management, LLC, Napier Park Global Capital (Napier Park), Regatta Loan Management (RLM, an advisory affiliate of Napier Park), Napier Park CMV (CMV, an advisory affiliate of Napier Park), First Eagle Alternative Credit (FEAC) as of 31-Mar-2026. It includes $3.6 billion in committed/non-fee-paying capital from Napier Park, inclusive of assets managed by RLM and CMV, and $0.9 billion in committed/non-fee-paying capital from FEAC. For CLO warehouses, AUM represents maximum commitment (loan par value).
Private equity funds indirectly controlled by Genstar Capital, as well as certain co-investors, indirectly own a majority stake in First Eagle Investment Management, LLC.
First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers. First Eagle Alternative Credit and Napier Park are brand names for the two subsidiary investment advisers engaged in the alternative credit business.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260421349944/en/
Media Contacts
First Eagle Investments
Pholida Barclay
212-698-3208
pholida.barclay@firsteagle.com
Prosek Partners (on behalf of First Eagle)
Bea Broderick
212-279-3115
pro-firsteagle@firsteagle.com
Diamond Hill
FGS Global
212-687-8080
DiamondHill@fgsglobal.com
Original: First Eagle Investments Completes Acquisition of Diamond Hill Investment Group
US Market News
3月前
Diamond Hill Announces Shareholder Approval of First Eagle TransactionMarch 3, 2026 4:10 PM
Business Wire
Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) (“Diamond Hill” or the “Company”), an investment management firm known for its valuation-driven principles, long-term perspective, capacity discipline and client alignment, today announced that the Company has obtained all requisite shareholder approvals in connection with the proposed acquisition by First Eagle Investment Management, LLC ("First Eagle"). The Company will disclose the final, certified voting results on a Form 8-K with the U.S. Securities and Exchange Commission.
As previously announced, the proposed transaction is expected to close in the second quarter of 2026, subject to the satisfaction of remaining conditions to the closing of the Merger under the Merger Agreement, including the receipt of the requisite client consents based on revenue run-rate. Upon completion of the transaction, the Company will become a wholly-owned subsidiary of First Eagle and its common shares will no longer be traded on the Nasdaq.
Advisors
Broadhaven Capital Partners is serving as financial advisor, Davis Polk & Wardwell LLP and Vorys, Sater, Seymour & Pease LLP are serving as legal advisors, and FGS Global is serving as strategic communications advisor to Diamond Hill in connection with the transaction. UBS Investment Bank is serving as financial advisor and Willkie Farr & Gallagher LLP is serving as legal advisor to First Eagle in connection with the transaction.
About First Eagle Investments
First Eagle is an independent, privately owned investment management firm headquartered in New York, with approximately $181 billion in AUM as of December 31, 2025. First Eagle focuses on active, fundamental, and benchmark-agnostic investing across equity, fixed income, alternative credit, and multi-asset strategies, with a strong emphasis on downside mitigation. Upon completion of the Merger, the Company is expected to continue to operate as a wholly-owned subsidiary of First Eagle.
About Diamond Hill Investment Group
Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline and client alignment. An independent active asset manager with significant employee ownership, Diamond Hill's investment strategies include differentiated U.S. and international equity, alternative long-short equity and fixed income. As of December 31, 2025, Diamond Hill's assets under management and assets under advisement totaled $31.0 billion. For more information visit www.diamond-hill.com.
Forward-Looking Statements
This communication, the documents incorporated herein by reference and statements, whether oral or written, made from time to time by representatives of the Company, may contain or incorporate “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements include, but are not limited to, statements regarding anticipated operating results, prospects and levels of assets under management, technological developments, economic trends (including interest rates and market volatility), expected transactions and similar matters. These forward-looking statements may include, without limitation, any statements preceded by, followed by or including words such as “may,” “could,” “can have,” “believe,” “expect,” “aim,” “anticipate,” “target,” “goal,” “project,” “assume,” “budget,” “potential,” “estimate,” “guidance,” “forecast,” “outlook,” “would,” “will,” “continue,” “likely,” “should,” “hope,” “seek,” “plan,” “intend,” and variations of such words and similar expressions. Similarly, descriptions of the Company’s objectives, strategies, plans, goals, or targets are also forward-looking statements. Such forward-looking statements include but are not limited to statements about the proposed Merger, including the expected timetable for completing the Merger and statements that are not historical facts.
Forward-looking statements are based on the Company’s expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. While the Company believes that the assumptions underlying its forward-looking statements are reasonable, investors are cautioned that any of the assumptions could prove to be inaccurate and, accordingly, the Company's actual results and experiences may differ materially from the anticipated results or other expectations expressed in its forward-looking statements. Factors that may cause the Company’s actual results or experiences to differ materially from results discussed in forward-looking statements include, but are not limited to the factors discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, each as filed with the Securities and Exchange Commission (“SEC”), and any factors discussed in the section entitled “Risk Factors” in any of our subsequently filed SEC filings, and the following: (i) the occurrence of any event, change, or other circumstance that could give rise to the right of one or both of the parties to terminate the definitive transaction agreement between the Company and Purchaser, including in circumstances requiring the Company to pay a termination fee; (ii) potential litigation relating to the Merger that could be instituted against the parties to the definitive transaction agreement or their respective directors or officers, including the effects of any outcomes related thereto; (iii) the possibility that the Merger does not close when expected or at all because required regulatory, shareholder, or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all; (iv) reputational risk and potential adverse reactions of clients, employees or other business partners and the businesses generally, including those resulting from the announcement of the Merger, including any resulting reduction in the Company’s AUM or AUA and the withdrawal, renegotiation or termination of any investment advisory agreements; (v) the risk that any announcements relating to the Merger could have adverse effects on the market price of the Company Common Shares; (vi) significant transaction costs associated with the Merger; and (vii) the diversion of management’s attention and time from ongoing business operations and opportunities on Merger-related matters.
Forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above and in the Company’s other public documents on file with the SEC. New risks and uncertainties arise from time to time, and factors that the Company currently deems immaterial may become material, and it is impossible for the Company to predict these events or how they may affect it. The Company undertakes no obligation to update any forward-looking statements after the date they are made, whether as a result of new information, future events, changes in its expectations or developments or otherwise, except as required by law, although it may do so from time to time. The Company does not endorse any projections regarding future performance that may be made by third parties.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260303356141/en/
Diamond Hill
FGS Global
212-687-8080
DiamondHill@fgsglobal.com
Original: Diamond Hill Announces Shareholder Approval of First Eagle Transaction
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