A publicly traded, $159.9-billion-AUM (as of September 30), multiboutique asset manager has purchased its 11th boutique, as planned.
| David C. "Dave" Brown|
Victory Capital Holdings, Inc.
Yesterday, Dave Brown
, chairman and CEO of Victory Capital Holdings, Inc.
that the San Antonio-based firm has closed
on its acquisition of Hanover, New Hampshire-based New Energy Capital Partners
. The deal was first unveiled
back in September.
The deal's price tag
was $65 million in cash, plus a possible earnout depending on growth over the next six years. 17-year-old NEC launches Victory's alternative investments platform, as NEC is Victory's first purely alternatives-focused boutique. NEC specializes in both equity and fixed income investing in clean energy infrastructure.
Brown calls the deal a "major milestone" for Victory.
"With multiple, well-established distribution channels, Victory Capital is ideally positioned to serve as a growth catalyst for high-quality alternative investment managers," Brown states.
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