Victory Capital Closes Acquisition of WestEnd Advisors

Rhea-AI Summary

Victory Capital Holdings, Inc. (NASDAQ: VCTR) announced the successful acquisition of WestEnd Advisors, effective December 31, 2021. This acquisition marks Victory's third in 2021 and the establishment of its 12th Investment Franchise. WestEnd, based in Charlotte, North Carolina, specializes in core model allocation strategies and offers four primary ETF strategies. Victory Capital currently manages $160.5 billion in assets as of November 30, 2021, and aims to enhance WestEnd's market reach and leverage synergies for growth.

Positive

• Acquisition of WestEnd expands investment strategies and diversification.
• Increased market penetration opportunities through established relationships.
• Total assets under management stands at $160.5 billion.

Negative

• None.

SAN ANTONIO--(BUSINESS WIRE)-- Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”) today announced that it successfully closed the previously announced acquisition of WestEnd Advisors (“WestEnd”) on December 31, 2021.

David Brown, Chairman and CEO of Victory Capital, said, “WestEnd represents our third acquisition that closed in 2021.

“We are looking forward to deepening WestEnd’s penetration on existing platforms and introducing them to new financial intermediaries and platforms where we have long-standing relationships. We are excited to leverage the complementary capabilities of both organizations and maximize the opportunity ahead of us.”

WestEnd will become Victory Capital’s 12^th Investment Franchise and represents a new dimension of growth and diversification. Founded in 2004, and headquartered in Charlotte, North Carolina, WestEnd provides financial advisors with turnkey, core model allocation strategies serving as holistic solutions and complementary sources of alpha. The firm offers four primary ETF strategies and one large cap core strategy, all in tax efficient Separately Managed Account (SMA) structures.

About Victory Capital

Victory Capital is a diversified global asset management firm with $160.5 billion in assets under management as of November 30, 2021. It was ranked ninth on Fortune’s list of the 100 Fastest Growing Companies for 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 12 autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment products, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, and a 529 Education Savings Plan.

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FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “assume,” “budget,” “continue,” “estimate,” “future,” “objective,” “outlook,” “plan,” “potential,” “predict,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Victory Capital’s control such as the COVID-19 pandemic and its effect on our business, operations and financial results going forward, as discussed in Victory Capital’s filings with the SEC, that could cause Victory Capital’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220103005086/en/

Investors:

Matthew Dennis, CFA

Chief of Staff

Director, Investor Relations

216-898-2412

mdennis@vcm.com

Media:

Tricia Ross

310-622-8226

tross@finprofiles.com

Source: Victory Capital Holdings, Inc.

FAQ

What is the significance of Victory Capital's acquisition of WestEnd Advisors?

The acquisition enhances Victory Capital's investment capabilities, adding a new dimension of growth and diversification with WestEnd's core model strategies.

When did Victory Capital acquire WestEnd Advisors?

Victory Capital successfully closed the acquisition on December 31, 2021.

How many Investment Franchises does Victory Capital have?

With the acquisition of WestEnd, Victory Capital now has 12 Investment Franchises.

What assets does Victory Capital manage?

As of November 30, 2021, Victory Capital manages $160.5 billion in assets.