Diamond Hill Shareholders Approve First Eagle Acquisition

The $2.1 billion deal will create a combined investment management firm with over $200 billion in assets.

Mar. 3, 2026 at 10:05pm

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Diamond Hill Investment Group, an independent investment management firm, has announced that its shareholders have approved the company's acquisition by First Eagle Investment Management, a global asset management firm. The $2.1 billion transaction will create a combined firm with over $200 billion in assets under management.

Why it matters

The merger will create one of the largest independent investment management firms in the United States, combining Diamond Hill's expertise in value-oriented investing with First Eagle's global reach and diverse product offerings. This deal reflects ongoing consolidation in the asset management industry as firms seek to gain scale and diversify their capabilities.

The details

Under the terms of the agreement, First Eagle will acquire all outstanding shares of Diamond Hill for $73 per share in cash. The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals. Diamond Hill's founder and CEO, Chris Bingaman, will join First Eagle's executive leadership team upon completion of the deal.

  • The shareholder vote approving the acquisition took place on March 3, 2026.
  • The transaction is expected to close in the second quarter of 2026, pending regulatory approvals.

The players

Diamond Hill Investment Group

An independent investment management firm based in Columbus, Ohio.

First Eagle Investment Management

A global asset management firm headquartered in New York.

Chris Bingaman

The founder and CEO of Diamond Hill Investment Group.

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What they’re saying

“We are excited to join forces with First Eagle and believe this transaction will create significant value for our shareholders, clients and employees.”

— Chris Bingaman, Founder and CEO, Diamond Hill Investment Group

What’s next

The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals.

The takeaway

This merger reflects the ongoing consolidation in the asset management industry as firms seek to gain scale and diversify their capabilities to better serve clients in a competitive market.