Diamond Hill Investment Group to Acquire Owl Rock Capital Partners
Ticker: DHIL · Form: 8-K · Filed: Jun 4, 2024 · CIK: 909108
| Field | Detail |
|---|---|
| Company | Diamond Hill Investment Group Inc (DHIL) |
| Form Type | 8-K |
| Filed Date | Jun 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, asset-purchase, alternative-investments
TL;DR
DHIL buying ORCP assets to boost alternative investments, closing Q3.
AI Summary
Diamond Hill Investment Group, Inc. announced on June 4, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets of Owl Rock Capital Partners, LLC. The transaction is expected to close in the third quarter of 2024 and will be funded through a combination of cash on hand and potentially debt financing.
Why It Matters
This acquisition significantly expands Diamond Hill's capabilities and market presence in the alternative investment space.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent integration risks and potential for overpayment, and the use of debt financing introduces financial leverage.
Key Players & Entities
- Diamond Hill Investment Group, Inc. (company) — Registrant
- Owl Rock Capital Partners, LLC (company) — Target of acquisition
- June 4, 2024 (date) — Date of announcement
- Third quarter of 2024 (date) — Expected closing period
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing announces that Diamond Hill Investment Group, Inc. has entered into a definitive agreement to acquire substantially all of the assets of Owl Rock Capital Partners, LLC.
When is the acquisition expected to be completed?
The acquisition is expected to close in the third quarter of 2024.
How will the acquisition be financed?
The transaction is expected to be funded through a combination of cash on hand and potentially debt financing.
What is the name of the company being acquired?
Diamond Hill Investment Group, Inc. is acquiring substantially all of the assets of Owl Rock Capital Partners, LLC.
What is the filing date of this report?
The filing date of this report is June 4, 2024.
Filing Stats: 455 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-06-04 16:01:51
Filing Documents
- dhil-20240604.htm (8-K) — 36KB
- dhil-20240604_g1.jpg (GRAPHIC) — 602KB
- 0000909108-24-000027.txt ( ) — 1559KB
- dhil-20240604.xsd (EX-101.SCH) — 2KB
- dhil-20240604_lab.xml (EX-101.LAB) — 21KB
- dhil-20240604_pre.xml (EX-101.PRE) — 12KB
- dhil-20240604_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events The following is a summary of assets under management as of May 31, 2024 of Diamond Hill Capital Management, Inc., a wholly owned subsidiary of Diamond Hill Investment Group, Inc. (in millions): By Investment Vehicle Diamond Hill Funds $ 16,767 Separately managed accounts 6,821 Collective investment trusts 1,731 Other pooled vehicles 3,889 Total $ 29,208 By Investment Strategy Small Cap $ 257 Small-Mid Cap 2,474 Mid Cap 1,072 Large Cap 18,188 Large Cap Concentrated 117 Select 701 Long-Short 1,842 International 135 Micro Cap 24 Short Duration Securitized Bond 2,411 Core Fixed Income 1,973 Long Duration Treasury 24 (Less: Investments in affiliated funds) (10) Total $ 29,208
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DIAMOND HILL INVESTMENT GROUP, INC. Date: June 4, 2024 By: /s/ Thomas E. Line Thomas E. Line, Chief Financial Officer and Treasurer