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Victory Capital Holdings, Inc. (NASDAQ: VCTR) has successfully completed the acquisition of New Energy Capital Partners (NEC), marking a significant milestone as it expands its investment franchises. This acquisition is set to enhance earnings and growth opportunities in alternative investments, particularly in clean energy infrastructure. NEC, established in 2004, is noted for its impressive environmental impact, offsetting over 4.4 million metric tons of carbon dioxide equivalents last year. With this transaction, Victory Capital adds its 11th Investment Franchise to its portfolio, positioning itself within a growing asset class.
Positive
The acquisition of NEC is immediately accretive to earnings.
New Investment Franchise enhances growth opportunities in alternative investments.
NEC's expertise in clean energy aligns with growing market demand for sustainable investments.
Negative
None.
SAN ANTONIO--(BUSINESS WIRE)--
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today announced that its wholly owned operating subsidiary Victory Capital Management Inc. has closed on its previously announced acquisition of New Energy Capital Partners (“NEC”). The transaction is immediately accretive to Victory Capital’s earnings.
David Brown, Chairman and CEO of Victory Capital, said, “Closing on our first Investment Franchise exclusively managing alternative investments is a major milestone for our Company. This new platform creates additional growth opportunities in an attractive and expanding asset class and market sector. With multiple, well-established distribution channels, Victory Capital is ideally positioned to serve as a growth catalyst for high-quality alternative investment managers.”
NEC becomes Victory Capital’s 11th Investment Franchise. Founded in 2004 and based in Hanover, New Hampshire, NEC is a leading alternative asset management firm focused on debt and equity investments in clean energy infrastructure projects and companies. Last year, projects funded by NEC offset more than 4.4 million metric tons of carbon dioxide equivalents. This greenhouse gas abatement equates to planting more than 73 million trees.
About Victory Capital
Victory Capital is a diversified global asset management firm with $159.9 billion in assets under management as of September 30, 2021. The Company operates a next-generation business model combining boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.
Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 11 autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment styles and investment vehicles including, actively managed mutual funds, separately managed accounts, active ETFs, multi-asset class strategies, custom-designed solutions, private funds, and a 529 Education Savings Plan.
What is the purpose of Victory Capital's acquisition of NEC?
The acquisition aims to expand Victory Capital's investment franchises and enhance earnings through alternative investments.
How does the NEC acquisition impact Victory Capital's earnings?
The acquisition is immediately accretive to Victory Capital's earnings, signaling a positive financial impact.
What is New Energy Capital Partners known for?
NEC is known for its focus on clean energy infrastructure and has offset over 4.4 million metric tons of carbon dioxide equivalents in the past year.
When was the acquisition of NEC closed by Victory Capital?
Victory Capital closed the acquisition of New Energy Capital Partners on the date specified in the press release.
What is the significance of this acquisition for Victory Capital?
This acquisition adds a new investment franchise focused on alternative investments, creating additional growth opportunities in an expanding market sector.
