Amundi and Victory Capital become strategic partners

Amundi and Victory Capital today announce the closing of their previously announced transaction

In line with the agreement announced on 9 July 2024:

Amundi US has been combined with Victory Capital which is now managing close to $300bn¹ of assets;
Amundi has become a strategic shareholder of Victory Capital ;
Amundi and Victory Capital have entered into 15-year distribution agreements, which are now effective.

Under these agreements, we will distribute Victory Capital’s US-manufactured active asset management products outside of the US. Additionally, we will be the supplier of non-US manufactured products for Victory’s distribution in the US.

As consideration for the Amundi US business and as the final transaction adjustments progress, our total equity interest is anticipated to reach 26.1%.

The transaction, which does not include any cash consideration, will result in a material increase in the contribution from US operations to our results.

Valérie Baudson

Chief Executive Officer of Amundi

Thanks to this transaction with Victory Capital, Amundi’s clients can access a broader range of high-performing US investment solutions, while we are looking forward to providing Victory Capital’s clients with Amundi’s expertise and products. With this value-creating deal, Amundi has strengthened its presence in the US via a larger US investment and distribution platform.