Diamond Hill Capital Management Refines Strategy Lineup COLUMBUS, Ohio , Feb. 3, 2021 |PRNewswire| -- Diamond Hill Investment Group, Inc. (NASDAQ: DHIL ), today announced that Diamond Hill Capital Management, its independent active asset manager subsidiary, has entered into a definitive agreement to enable Brandywine Global Investment Management, LLC ("Brandywine Global"), a specialist investment manager and subsidiary of Franklin Resources, Inc., to acquire the business of Diamond Hill's high yield-focused High Yield and Corporate Credit Funds. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions, including fund board and fund shareholder approval. Portfolio managers John McClain , CFA, and Bill Zox , CFA, and research associate Jack Parker , CFA, will join Brandywine Global as part of the transaction. "Our investment team remains focused on delivering value-disciplined, long-term oriented investment outcomes in our equity and investment grade fixed income strategies. We are excited about growing our fixed income capabilities with portfolio managers Mark Jackson , CFA, and Henry Song , CFA, including our Core Bond and Short Duration Securitized Bond strategies," Heather Brilliant , CFA, CEO of Diamond Hill, said. "This transaction is the result of thoughtful review and ongoing conversations between Diamond Hill and portfolio managers McClain and Zox to determine the ideal platform and infrastructure for the high yield-focused funds and the funds' shareholders.