Victory Capital Holdings, Inc. entered into a definitive agreement to acquire 100% of First Eagle Investments from Genstar Capital and employees for approximately $7.0 billion in cash and stock consideration. The transaction includes the assumption of $575 million in First Eagle's existing senior secured notes. Upon closing, the combined entity is expected to manage approximately $571 billion in assets under management, positioning Victory as one of the largest publicly traded traditional asset managers in the U.S. The deal is anticipated to be 35% accretive to 2027 adjusted earnings per share and includes roughly $280 million in net expense synergies. Closing is expected by the end of Q1 2027, subject to customary conditions including regulatory approvals and shareholder consent for equity issuance. Victory Capital Holdings operates as a diversified global asset management firm.
