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Victory Capital Closes Acquisition of WestEnd Advisors for Upfront Payment of USD 480m.

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MANews-(C)2009-2022

Ohio, US-based investment management firm Victory Capital Holdings, Inc. (NASDAQ: VCTR) has closed the acquisition of 100% of North Carolina-based WestEnd Advisors, LLC for an upfront payment of USD 480m, the company said.

Of the purchase agreement, Victory will provide deferred earnout payments over a number of years upon the satisfaction of certain revenue growth targets. The transaction is expected to close before the end of this year and be immediately accretive to earnings.

WestEnd will become Victory Capital's 12th Investment Franchise and represents a new dimension of growth and diversification.

WestEnd provides financial advisors with turnkey, core model allocation strategies serving as holistic solutions and complementary sources of alpha.

With approximately USD 18bn in assets, the firm offers four primary ETF strategies and one large cap core...

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