AcquisitionAug 26, 2026Pending
🇺🇸 United States
FEFirst Eagle InvestmentsVCVictory Capital Holdings, Inc.
Financial Institutions › Asset & Wealth Management
Enterprise value$7BEnterprise value
AnnouncedAug 26, 2026
ConsiderationCash and stock
StructureOther
RegionNorth America
Cross-borderNo
Contingent paymentNo
Overview
Victory Capital agreed to acquire 100% of First Eagle Investments from Genstar Capital and First Eagle employees for total consideration of approximately $7.0 billion, comprising about $4.4 billion in cash and $2.0 billion in newly issued Victory Capital equity. Victory Capital will also assume $575 million of First Eagle's senior secured notes.
Deal rationale
The acquisition adds a differentiated global value multi-asset capability, a scaled CLO and alternative credit platform, and broader distribution, enhancing Victory Capital's organic growth and earnings.
AI-generated from the SEC filingPendingFinancial Institutions › Asset & Wealth ManagementUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | Undisclosed | |
|---|---|---|
| Enterprise value | $7B | Headline figure |
| Consideration | Cash and stock |
Advisors
Buy-side
PPPJT PartnersRCRBC Capital Markets
Sell-side
BOBank of AmericaUUBS
Parties
Target
FEFirst Eagle Investments
- Headquarters
- United States
- Ticker
- —
Acquirer
VCVictory Capital Holdings, Inc.
- Headquarters
- United States
- Ticker
- —
Seller
GCGenstar Capital
- Headquarters
- —
- Ticker
- —