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Tuesday, September 14, 2021|
A $163B-AUM Multiboutique Buys Into Alts
A $162.9-billion-AUM (as of July 31), publicly traded multiboutique asset manager is buying its way into the alternative investing space.
BofA Securities advised Victory on the deal, while UBS advised NEC. Willkie Farr & Gallaher LLP gave Victory legal counsel, while Choate Hall & Stewart LLP did so for NEC.
17-year-old NEC, based in Hanover, New Hampshire, will become San Antonio, Texas-based Victory's 11th boutique.
"Launching an alternative investment platform creates an additional path for future growth," Dave Brown states. "The same principles that have led to success in our traditional asset management business will guide the strategy for this part of our business."
For his part, Scott Brown describes the deal as a way "to enhance operating support and accelerate [NEC's] growth trajectory."
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