Victory Capital Closes on Transaction to Become Strategic Partner with Amundi

About this update from Victory Capital Holdings, Inc. Class A Common Stock

[{"type":"text","content":"\n15-year Reciprocal Global Distribution Agreements with Amundi Begin\n\n SAN ANTONIO--(BUSINESS WIRE)--\nVictory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today announced that it has closed on its previously announced transaction with Amundi SA (“Amundi”).\n\nDavid Brown, Chairman and CEO of Victory Capital, said, “Closing this transaction, entering into 15-year reciprocal global distribution agreements, and forming our strategic partnership with Amundi are transformational events for Victory Capital. This immediately globalizes our business and gives us the opportunity to reach clients around the world.\n\n“To replace the Amundi US name, we are reintroducing the Pioneer Investments brand to reinforce the long history of investment excellence by the investment professionals managing the various Pioneer strategies.”\n\nIn 2024, Pioneer Investments generated revenue of $544 million and positive net flows of $5.5 billion. As of February 28, 2025, they had $119 billion of Assets Under Management and year-to-date net flows were a positive $2.7 billion across their entire business. Investment performance remains strong, with 62% of mutual fund AUM rated 4- or 5-stars by Morningstar as of February 28.\n\n“Our integration work has progressed nicely,” Brown continued. “We are increasing our net expense synergies target from $100 million to $110 million and expect to achieve these synergies sooner than originally anticipated. As of the close, we will have achieved approximately $50 million of net expense synergies and expect to achieve another $30 million of net expense synergies over the next six months. By the end of our first year of ownership, we expect to have achieved more than $100 million in net expense synergies with the remaining balance expected to be realized in our second year of ownership.\n\n“We anticipate sales within the US and outside the US will remain strong for Pioneer Investments. Victory Capital strategies will soon be available for distribution throughout the Amundi global distribution network. We have initiated the registration process for numerous Victory Capital strategies in retail product structures conducive to sales outside the US. We anticipate launching these products in the future alongside the existing lineup of Pioneer strategies which are currently available.”\n\nAs pa...

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