Victory Capital to Close First Eagle Deal by Q1 2027

The Tip Desk · November 8, 2026 · 2 min read

The asset manager said integration planning is under way as it works toward a close subject to regulatory approvals and client consents.

Victory Capital Holdings, Inc. (VCTR) said it expects to close its acquisition of First Eagle Investments by the end of the first quarter of 2027, subject to customary closing conditions, including certain regulatory approvals and client consents.

The asset manager said it announced a definitive agreement to acquire First Eagle Investments in August 2026. It described the transaction as transformational, saying it will add size and scale across the business and allow Victory Capital to increase its distribution footprint inside and outside the United States.

Victory Capital said the deal will also add a differentiated global value multi-asset capability, complementary equity and fixed income capabilities, a scaled CLO and alternative credit platform, along with a track record of years of positive net flows, including year to date through the end of September 2026, as well as strong investment performance.

The company said its teams are deeply engaged in integration planning and working toward closing.

Victory Capital reported Total Client Assets of $355.5 billion as of September 30, 2026, including $351.9 billion of assets under management and $3.6 billion of other assets. For the third quarter it reported long-term AUM net inflows of $11.7 billion.

In the second quarter of 2026 the company reported Total Client Assets of $346.1 billion, long-term gross flows of $22.1 billion and long-term net inflows of $4.2 billion. Chairman and Chief Executive Officer David C. Brown said the quarter produced record revenue, Adjusted EBITDA, Adjusted EBITDA margin and earnings per share, and that positive long-term net flows continued year to date through June 30.

The company completed the acquisition of Amundi US on April 1, 2025, and reintroduced the Pioneer Investments brand for the acquired business.