Stefano Madrigali/Getty Images
Victory Capital Holdings, which recently missed out on acquiring Janus Henderson, has agreed to buy First Eagle Investments for about $7 billion, as consolidation continues apace across the **** et management industry.
The acquisition of First Eagle brings Victory's **** ets under management to roughly $571 billion, and continues its strategy of buying **** et management firms, keeping their brands and investment teams largely intact, and moving them onto a common operating and distribution platform.
The San Antonio-based firm has completed eight increasingly ambitious acquisitions since 2014. In 2025, Paris-based **** et manager Amundi took a 26% stake in Victory in exchange for handing it Amundi US, a deal that added $120 billion of **** ets to Victory's platform.
Victory will pay about $4.4 billion in cash and issue $2 billion of new shares to sellers Genstar Capital, which took a majority stake in August last year, and First Eagle employees. It will also **** ume $575 million of First Eagle debt carrying a 7.25% coupon.
#first #eagle #victory #management
Victory Capital Holdings, which recently missed out on acquiring Janus Henderson, has agreed to buy First Eagle Investments for about $7 billion, as consolidation continues apace across the **** et management industry.
The acquisition of First Eagle brings Victory's **** ets under management to roughly $571 billion, and continues its strategy of buying **** et management firms, keeping their brands and investment teams largely intact, and moving them onto a common operating and distribution platform.
The San Antonio-based firm has completed eight increasingly ambitious acquisitions since 2014. In 2025, Paris-based **** et manager Amundi took a 26% stake in Victory in exchange for handing it Amundi US, a deal that added $120 billion of **** ets to Victory's platform.
Victory will pay about $4.4 billion in cash and issue $2 billion of new shares to sellers Genstar Capital, which took a majority stake in August last year, and First Eagle employees. It will also **** ume $575 million of First Eagle debt carrying a 7.25% coupon.
#first #eagle #victory #management
1 day ago
