Amundi, a European asset management giant, has announced an agreement to sell its U.S. business to Victory Capital. Under the deal, Amundi will receive a 26% stake in Victory Capital in exchange for its U.S. business, with no cash payment involved.
Valerie Baudson, Amundi’s CEO, stated that the partnership with Victory Capital presents a unique opportunity for the company to strengthen its position in the U.S. market. By becoming a strategic shareholder in Victory Capital, an established U.S.-based asset management firm with a strong growth record, Amundi aims to enhance its position in the industry and expand its global reach.
Victory Capital, with a market capitalization of approximately $2.7 billion and managing $170 billion in total assets, will benefit from the partnership with Amundi. In addition to the stake exchange, the agreement includes reciprocal distribution agreements between Amundi and Victory Capital that will span 15 years.
This strategic move reflects Amundi’s commitment to expanding its global reach and enhancing its competitive edge in the asset management sector. With the partnership with Victory Capital, both companies aim to leverage their strengths and capabilities to drive growth and deliver value to their clients.
Amundi is Europe’s largest asset manager and has been operating globally since 1989.
Victory Capital is a leading independent asset management firm based in New York City that was founded in 1986.
Both companies have strong track records of growth and success.
The partnership between these two companies is expected to bring significant benefits for both parties.
With this acquisition by Victorial Capitol, Amundi aims to expand its presence in North America while also benefiting from Victorial’s experience and expertise.
The deal is expected to be completed within three months of signing it will give new opportunities for both companies to grow together
