Victory Capital Announces Additional Investment in Cerebellum Capital
March 06 2018 - 9:00AM
Victory Capital announced today that its parent company, Victory
Capital Holdings, Inc. (NASDAQ:VCTR) will be making an additional
minority investment in Cerebellum Capital (“Cerebellum”) in April
2018. Cerebellum is an investment management firm that specializes
in machine learning, a form of artificial intelligence that allows
computers to learn without being explicitly programmed. Victory
Capital acquired an initial minority stake in Cerebellum in
December 2016.
Founded in 2008, San Francisco-based Cerebellum
leverages machine learning techniques to continuously design,
execute and improve investment programs. The platform is based on a
collective 30 years of research by well-known intelligent
technology experts, including co-founders Dr. David Andre and Dr.
Astro Teller. Dr. Andre currently serves as Chief Executive Officer
of Cerebellum and is a member of the company’s Board of Directors.
Dr. Teller, who is currently Chief Executive Officer of X, an
Alphabet (formerly Google) company, served as Cerebellum’s Chief
Executive Officer from 2008 to 2010. He continues to be an active
Director on Cerebellum’s Board.
“We believe artificial intelligence represents a
tremendous opportunity to augment and evolve investment
management,” said David Brown, Chairman and Chief Executive Officer
of Victory Capital. “Several of our investment franchises are
actively working with Cerebellum to better understand how machine
learning techniques can be applied in their respective asset
classes with the goal of improving investor outcomes.”
“We have formed a great partnership with Victory
Capital, a firm that shares our view on the importance of
continuous business innovation and improvement,” said Gary Mueller,
Chairman of Cerebellum Capital. “We believe that Cerebellum’s
expertise in machine learning can be leveraged to further enhance
the excellent work that Victory Capital is doing in the active
management arena as well as in the development of rules-based
strategic beta solutions. We are actively exploring these
opportunities with them.”
Terms of the transaction have not been
disclosed.
ABOUT VICTORY CAPITAL
Victory Capital is an independent investment
management firm operating a next-generation, integrated
multi-boutique business model with $61.8 billion in assets under
management and advisement as of December 31, 2017.
Our differentiated model is comprised of nine
investment franchises, each with an independent culture and
investment approach. Additionally, we offer a rules-based solutions
platform, featuring our VictoryShares ETF brand as well as custom
and multi-asset class solutions. Our investment franchises and
solutions platform are supported by a centralized distribution,
marketing and operational environment, in which our investment
professionals can focus on the pursuit of investment
excellence.
Victory Capital provides institutions, financial
advisors and retirement platforms with a variety of asset classes
and investment vehicles, including separately managed accounts,
collective trusts, mutual funds, ETFs and UMA/SMA vehicles.
For more information, please visit
www.vcm.com.
ABOUT CEREBELLUM
CAPITALCerebellum Capital is a machine-learning investment
management firm, headquartered in San Francisco, CA.
Cerebellum’s machine learning platform automates much of the
role of a data scientist, including the processes of discovering,
evaluating, and improving strategies in risk-managed portfolios.
The system utilizes a wide variety of publicly available and
licensed data sources. By replicating the activities of a
data scientist, Cerebellum’s automated strategy discovery process
optimizes for a proprietary mix of expected return maximization,
risk/volatility reduction, and portfolio independence from major
markets.
PRESS INQUIRIES
Contact:Tricia
Ross310-622-8226tross@finprofiles.com
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