Amundi, the largest asset manager in Europe, has announced a strategic partnership with Victory Capital, a reputable U.S.-based asset management firm. The transaction will see Amundi acquire a 26% stake in Victory Capital in exchange for its U.S. business. There was no cash payment involved in the deal, according to Amundi.
The CEO of Amundi, Valerie Baudson, commented on the transaction, stating that it presents a unique opportunity for the company to strengthen its presence in the U.S. market. By becoming a strategic shareholder in Victory Capital, Amundi aims to benefit from this partnership and expand its reach and capabilities in the asset management industry.
Victory Capital is valued at approximately $2.7 billion and manages over $170 billion in total assets under management. The two companies will collaborate on reciprocal distribution agreements for a period of 15 years as part of this partnership. This move is expected to enhance their respective offerings and expand their presence in their respective markets.
Overall, this strategic partnership represents a significant move by both companies aimed at leveraging their strengths and expertise to expand their presence and enhance their offerings in the asset management industry.
Amundi’s acquisition of Victory Capital’s U.S business marks a significant expansion into new markets for the Italian asset manager, which already operates across Europe, Asia-Pacific and Latin America.
Victory Capital has been expanding its own presence beyond its home market of North America with investments abroad including Europe and Asia-Pacific.
The deal between Amundi and Victory Capital brings together two leading players in the asset management industry with complementary businesses that can leverage each other’s strengths to achieve greater success.
In conclusion, this strategic partnership represents a significant move by both companies aimed at expanding their presence and enhancing their offerings in the asset management industry through collaboration on reciprocal distribution agreements for 15 years.