Victory Capital Closes Acquisition of New Energy Capital Partners
SAN ANTONIO--(BUSINESS WIRE)--Nov 1, 2021--
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 11 th 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211101005983/en/
Matthew Dennis, CFA
Chief of Staff
Director, Investor Relations
KEYWORD: TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER ENERGY ENERGY FINANCE BANKING ACCOUNTING
SOURCE: Victory Capital Holdings, Inc.
Copyright Business Wire 2021.
PUB: 11/01/2021 05:17 PM/DISC: 11/01/2021 05:17 PM