Victory Capital Closes Acquisition of New Energy Capital Partners
November 01 2021 - 5:17PM
Business Wire
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”
or the “Company”) today announced that its wholly owned operating
subsidiary Victory Capital Management Inc. has closed on its
previously announced acquisition of New Energy Capital Partners
(“NEC”). The transaction is immediately accretive to Victory
Capital’s earnings.
David Brown, Chairman and CEO of Victory Capital, said, “Closing
on our first Investment Franchise exclusively managing alternative
investments is a major milestone for our Company. This new platform
creates additional growth opportunities in an attractive and
expanding asset class and market sector. With multiple,
well-established distribution channels, Victory Capital is ideally
positioned to serve as a growth catalyst for high-quality
alternative investment managers.”
NEC becomes Victory Capital’s 11th Investment Franchise. Founded
in 2004 and based in Hanover, New Hampshire, NEC is a leading
alternative asset management firm focused on debt and equity
investments in clean energy infrastructure projects and companies.
Last year, projects funded by NEC offset more than 4.4 million
metric tons of carbon dioxide equivalents. This greenhouse gas
abatement equates to planting more than 73 million trees.
About Victory Capital
Victory Capital is a diversified global asset management firm
with $159.9 billion in assets under management as of September 30,
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 11 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, private funds, and a 529
Education Savings Plan.
For more information, please visit www.vcm.com or follow us:
Twitter and LinkedIn.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211101005983/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