Amundi US has completed its combination with Victory Capital, with the wider Amundi group taking a 21.2% stake in the company. This will rise to 26.1% in the coming weeks.
The transaction which was announced last June will see Amundi distribute Victory’s active funds outside of the US.
Likewise, Victory will now distribute Amundi’s European products to US investors, allowing both firm’s to expand their reach into new capital markets.
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Valérie Baudson, chief executive officer of Amundi, said: “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.”
The strategic partnership to distribute one another’s funds will be active for 15 years from today.
Victory runs 83 mutual funds in total, including passive vehicles, and has close to $300bn in assets under management.
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