Victory Capital Announces Alderwood Secures FCA Authorization
March 08 2021 - 7:00AM
Business Wire
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory
Capital”) today reported that Alderwood Capital LLP (“Alderwood”)
has received authorization from the Financial Conduct Authority
(FCA) of the United Kingdom and has been formally launched to
institutional investors.
In September 2020, a wholly owned subsidiary of Victory Capital
acquired an equity stake in Alderwood’s parent Alderwood Partners
LLP.
“Our investment in Alderwood represents Victory Capital’s entry
into private vehicles and illiquid assets,” said David Brown,
Chairman and CEO of Victory Capital and a member of the Alderwood
Partners board of directors.
“This business presents many strategic opportunities for us, in
addition to providing attractive return potential given fee rates
and margins in similar private funds. Asset flows into the planned
closed end institutional fund will be highlighted in our future
reporting and the investment will be reported using the equity
method of accounting,” Brown concluded.
About Victory Capital
Victory Capital is a diversified global asset management firm
with $146.2 billion in assets under management as of January 31,
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 nine autonomous Investment Franchises and a
Solutions Platform, Victory Capital offers a wide array of
investment styles and investment vehicles including, actively
managed mutual funds, separately managed accounts, active ETFs,
multi-asset class strategies, custom-designed solutions and a 529
College Savings Plan.
For more information, please visit www.vcm.com or follow us:
Twitter and LinkedIn
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.
Although it is not possible to identify all such risks and
factors, they include, among others, the following: reductions in
AUM based on investment performance, client withdrawals, difficult
market conditions and other factors such as a pandemic; the nature
of the Company’s contracts and investment advisory agreements; the
Company’s ability to maintain historical returns and sustain its
historical growth; the Company’s dependence on third parties to
market its strategies and provide products or services for the
operation of its business; the Company’s ability to retain key
investment professionals or members of its senior management team;
the Company’s reliance on the technology systems supporting its
operations; the Company’s ability to successfully acquire and
integrate new companies; the concentration of the Company’s
investments in long-only small- and mid-cap equity and U.S.
clients; risks and uncertainties associated with non-U.S.
investments; the Company’s efforts to establish and develop new
teams and strategies; the ability of the Company’s investment teams
to identify appropriate investment opportunities; the Company’s
ability to limit employee misconduct; the Company’s ability to meet
the guidelines set by its clients; the Company’s exposure to
potential litigation (including administrative or tax proceedings)
or regulatory actions; the Company’s ability to implement effective
information and cyber security policies, procedures and
capabilities; the Company’s substantial indebtedness; the potential
impairment of the Company’s goodwill and intangible assets;
disruption to the operations of third parties whose functions are
integral to the Company’s ETF platform; the Company’s determination
that Victory Capital is not required to register as an "investment
company" under the 1940 Act; the fluctuation of the Company’s
expenses; the Company’s ability to respond to recent trends in the
investment management industry; the level of regulation on
investment management firms and the Company’s ability to respond to
regulatory developments; the competitiveness of the investment
management industry; the dual class structure of the Company’s
common stock; the level of control over the Company retained by
Crestview GP; the Company’s status as an emerging growth company
and a controlled company; and other risks and factors listed under
"Risk Factors" and elsewhere in the Company’s filings with the
SEC.
Such forward-looking statements are based on numerous
assumptions regarding Victory Capital’s present and future business
strategies and the environment in which it will operate in the
future. Any forward-looking statement made in this press release
speaks only as of the date hereof. Except as required by law,
Victory Capital assumes no obligation to update these
forward-looking statements, or to update the reasons actual results
could differ materially from those anticipated in the
forward-looking statements, even if new information becomes
available in the future.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210308005189/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
Victory Capital (NASDAQ:VCTR)
Historical Stock Chart
From May 2024 to Jun 2024
Victory Capital (NASDAQ:VCTR)
Historical Stock Chart
From Jun 2023 to Jun 2024