Amundi Finalizes Strategic Partnership with Victory Capital
Deal News | Apr 01, 2025 | Amundi
Amundi and Victory Capital have successfully closed their strategic partnership, initially announced on July 9, 2024. Under the agreement, Amundi US has been merged with Victory Capital, which now manages nearly $300 billion in assets. Amundi has become a strategic shareholder of Victory Capital, receiving 17.6 million shares, equivalent to a 21.2% equity interest, which is expected to grow to 26.1% over time. The firms have also enacted a 15-year reciprocal distribution agreement, wherein Amundi will distribute Victory Capital's US-manufactured products outside the US, while Amundi's non-US products will be distributed by Victory in the states. This transaction, not involving cash consideration, is set to enhance Amundi's contribution from its US operations, yielding gains in adjusted net income and EPS. Amundi's CEO, Valérie Baudson, highlighted this deal as essential for expanding access to high-performing US investment solutions, thus fortifying Amundi’s foothold in the US market.
Sectors
- Asset Management
- Financial Services
Geography
- United States – Victory Capital is based in the US and Amundi's US operations are central to the transaction.
- France – Amundi is headquartered in France, making this geography relevant to the deal.
Industry
- Asset Management – The article discusses the strategic partnership involving investment management products, focusing on asset management across different regions.
- Financial Services – Both companies are involved in offering financial products and services, prominently managing substantial assets for clients.
Financials
- 17.6 million shares – Equity received by Amundi at closing, representing a 21.2% stake in Victory Capital.
- 300 billion USD – Assets managed by Victory Capital post-transaction.
- 26.1% – Expected total equity interest of Amundi in Victory Capital following adjustments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Amundi | PE Firm | Company | A French asset management firm that has become a strategic shareholder in Victory Capital as part of the deal. |
| Victory Capital | Target Company | Company | A US-based investment management firm that has entered into a strategic partnership and distribution agreement with Amundi. |
| Valérie Baudson | Chief Executive Officer | Person | CEO of Amundi, who commented on the strategic significance of the partnership. |