Diamond Hill Investment Group to Acquire Owl Rock Capital Partners
Ticker: DHIL · Form: 8-K · Filed: Jul 2, 2024 · CIK: 909108
| Field | Detail |
|---|---|
| Company | Diamond Hill Investment Group Inc (DHIL) |
| Form Type | 8-K |
| Filed Date | Jul 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, alternative investments, asset management
Related Tickers: DIHL
TL;DR
DIHL buying Owl Rock Capital Partners to boost alternative investments. Deal closes Q4 2024.
AI Summary
Diamond Hill Investment Group, Inc. announced on July 2, 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 fourth 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, potentially leading to increased assets under management and revenue.
Risk Assessment
Risk Level: medium — The acquisition involves integration risks and potential financing challenges, which could impact the expected benefits.
Key Players & Entities
- Diamond Hill Investment Group, Inc. (company) — Acquiring company
- Owl Rock Capital Partners, LLC (company) — Acquired entity
- July 2, 2024 (date) — Announcement date
- fourth quarter of 2024 (date) — Expected closing date
FAQ
What specific assets are being acquired from Owl Rock Capital Partners?
The filing states that substantially all of the assets of Owl Rock Capital Partners, LLC are being acquired.
When is the acquisition expected to be completed?
The acquisition is expected to close in the fourth 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 acquiring company?
The acquiring company is Diamond Hill Investment Group, Inc.
What is the ticker symbol for Diamond Hill Investment Group, Inc.?
The ticker symbol is not explicitly mentioned in this filing excerpt, but the company is identified as DIAMOND HILL INVESTMENT GROUP INC.
Filing Stats: 455 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-07-02 16:03:23
Filing Documents
- dhil-20240702.htm (8-K) — 36KB
- dhil-20240702_g1.jpg (GRAPHIC) — 602KB
- 0000909108-24-000029.txt ( ) — 1559KB
- dhil-20240702.xsd (EX-101.SCH) — 2KB
- dhil-20240702_lab.xml (EX-101.LAB) — 21KB
- dhil-20240702_pre.xml (EX-101.PRE) — 12KB
- dhil-20240702_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events The following is a summary of assets under management as of June 30, 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 $ 16,938 Separately managed accounts 6,657 Collective investment trusts 1,857 Other pooled vehicles 3,839 Total $ 29,291 By Investment Strategy Small Cap $ 250 Small-Mid Cap 2,409 Mid Cap 1,046 Large Cap 17,917 Large Cap Concentrated 118 Select 697 Long-Short 1,834 International 134 Micro Cap 23 Short Duration Securitized Bond 2,809 Core Fixed Income 2,039 Long Duration Treasury 25 (Less: Investments in affiliated funds) (10) Total $ 29,291
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: July 2, 2024 By: /s/ Thomas E. Line Thomas E. Line, Chief Financial Officer and Treasurer