The team at First Eagle Investments [profile] is preparing to make their biggest acquisition yet, which will also add their first Buckeye State offices.

"First Eagle is committed to expanding the range of differentiated investment solutions we offer ... and the acquisition of Diamond Hill represents the latest step in this long-term effort," a First Eagle spokesperson tells MFWire via email. "It markedly expands our capabilities in traditional fixed income, where Diamond Hill has seen significant growth, and its US-focused multi-cap equities strategies complement our existing Global Value and Small Cap teams. Further, Diamond Hill's fiduciary mindset, commitment to investment excellence and long-term orientation closely reflect our own investment philosophy."

As previously reported, New York City-based First Eagle has agreed to buy Columbus, Ohio-based Diamond Hill Investment Group, Inc. [profile] for about $473 million in cash, in a deal expected to close by Q3 2026. The First Eagle team plans to keep Diamond Hill in Diamond Hill's central Ohio HQ, under the Diamond Hill name.

"We intend to market Diamond Hill under its current brand name as a philosophically autonomous investment team," the First Eagle spokesperson writes.

As of November 30, Diamond Hill had a team of 120 employees (including 42 investment professionals), and they work with 16 investment strategies, MFWire has learned. A First Eagle spokesperson confirms that the Gotham fund firm now has 629 employees across 7 offices, and they offer 12 mutual funds, 2 ETFs, 3 interval funds, 5 retail SMAs, and more than 25 institutional strategies. Stay tuned for word on what the deal will mean for the staff and leadership teams at First Eagle and Diamond Hill.

"It is premature to speculate on the specifics of our future organizational structure," a First Eagle spokesperson writes. "First Eagle remains committed to providing clients with access to a range of differentiated, best-in-class investment solutions, and we will manage our business accordingly."

First Eagle has made four acquisitions over the years, the spokesperson confirms. Will other deals follow the Diamond Hill purchase?

"First Eagle's vision is to create the most resilient, well-regarded and successful active investment firm in the industry. A core element of this effort is to selectively diversify our investment capabilities, organically and through M&A, and we have made significant progress on this front over the past several years," a First Eagle spokesperson writes. "The acquisition of Diamond Hill represents the latest step in our ongoing effort to expand the range of investment solutions we offer to meet clients' needs." 

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