Amundi Expands US Presence with $170 Billion Asset Management Firm Victory Capital Buyout Deal

On Tuesday, Amundi, Europe’s largest asset manager, announced the sale of its US business to Victory Capital. In exchange for this sale, Amundi will receive a 26% stake in Victory Capital. The deal was completed without any cash payment, according to Amundi.

The CEO of Amundi, Valerie Baudson, commented on the transaction and stated that it presents a unique opportunity for the company to strengthen its presence in the US market. By becoming a strategic shareholder in Victory Capital, an established U.S.-based asset management firm with a history of growth, Amundi hopes to leverage this partnership to expand its reach and capabilities in the US market.

Victory Capital has a market capitalization of approximately $2.7 billion and manages over $170 billion in total assets under management. As part of the agreement, both companies will collaborate on reciprocal distribution agreements for a period of 15 years. This partnership is expected to enhance the reach and capabilities of both companies in their respective markets.

Overall, the deal between Amundi and Victory Capital represents a significant strategic move that aims to leverage the strengths and expertise of both companies to expand their presence and enhance their offerings in the asset management industry.