wsj.com

Victory Capital to Buy First Eagle for About $7 Billion

Victory Capital logoVictory Capital
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Frequency Electronics logoFrequency Electronics
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Victory Capital agreed to acquire First Eagle Investments for about $7 billion, aiming to create one of the largest publicly traded traditional asset managers in the U.S. The combined firm would have roughly $571 billion in total client assets. The purchase includes about $4.4 billion in cash and $2 billion in newly issued Victory Capital equity, plus the assumption of $575 million of First Eagle notes due 2032.

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