Amundi, the largest asset manager in Europe, has announced an agreement to sell its U.S. business to Victory Capital. As part of the deal, Amundi will receive a 26% stake in Victory Capital in exchange for its U.S. business, with no cash payment involved.
Valerie Baudson, CEO of Amundi, stated that this proposed transaction presents a unique opportunity for the company to strengthen its presence in the U.S. market. By becoming a strategic shareholder in Victory Capital, an established U.S.-based asset management firm with a strong growth record, Amundi aims to enhance its position in the industry and expand its global reach.
Victory Capital, with a market capitalization of approximately $2.7 billion and managing $170 billion in total assets, will benefit from this partnership by gaining access to Amundi’s European client base and expertise. In addition to the stake exchange, the agreement includes reciprocal distribution agreements between Amundi and Victory Capital that will span 15 years.
This strategic move reflects Amundi’s commitment to expanding its global reach and enhancing its competitive edge in the asset management sector. With this partnership, both companies aim to leverage their strengths and capabilities to drive growth and deliver value to their clients.
In conclusion, this deal presents a win-win situation for both companies as they look forward to strengthening their positions in the asset management industry while delivering value to their clients through enhanced capabilities and global reach.