On Tuesday, Amundi, the largest asset manager in Europe, announced it had reached a deal to sell its U.S. business to Victory Capital. In exchange for the sale, Amundi will receive a 26% stake in Victory Capital. The CEO of Amundi, Valerie Baudson, commented on the transaction and stated that it presents a unique opportunity for the company to strengthen its presence in the U.S. market.
Victory Capital is a reputable U.S.-based asset management firm with a history of growth and a market capitalization of approximately $2.7 billion and $170 billion in total assets under management. The partnership between the two companies will see them collaborate on reciprocal distribution agreements for 15 years.
The deal aims to enhance the reach and capabilities of both companies in their respective markets by leveraging their strengths and expertise to expand their presence and enhance their offerings in the asset management industry.
Overall, this significant strategic move between Amundi and Victory Capital represents an exciting opportunity for both companies to grow their businesses and achieve long-term success in the competitive world of asset management.
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