Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Firm”) introduced at this time that it has acquired, by a completely owned subsidiary, a 15% curiosity in Alderwood Companions LLP (“Alderwood”). Monetary phrases weren’t disclosed.
This press launch options multimedia. View the total launch right here: https://www.businesswire.com/news/home/20200921005196/en/
Alderwood’s working entity, Alderwood Capital, is a London-based funding advisory agency targeted on taking minority stakes in specialist boutique asset administration companies. Based in 2020 by Jonathan Little, Alderwood is planning – topic to regulatory approval – to boost a single fund to deploy its technique. Victory Capital may have board illustration on the basic accomplice stage and intends to take part as an investor within the fund.
“This funding in a confirmed M&A functionality offers Victory Capital with numerous compelling strategic benefits,” stated David Brown, Chairman and CEO of Victory Capital. “It considerably broadens our worldwide scope for future progress, significantly within the UK and on the European continent. Along with increasing alternatives for complementary distribution alliances and strategic partnerships leveraging organizational and regulatory platforms in non-US jurisdictions, it additionally offers enticing return alternative on our funding.”
“We’re very happy to welcome Victory Capital as companions in our agency,” added Jonathan Little, Founder and Managing Companion at Alderwood. “I’ve lengthy been an admirer of David Brown and the Victory Capital group. Victory Capital has a superb document of supporting companies over the long run and offering clever counsel to the administration groups it backs. It’s a massively credible investor and strategic accomplice, and we stay up for growing our relationship over the long run. Our organisations have sturdy cultural alignment, and we share the view that energetic administration in targeted corporations will proceed to generate sturdy money movement and enticing risk-adjusted IRR.”
Previous to founding Alderwood, Jonathan Little was Founder and Managing Companion of Northill Capital—a number one asset administration agency buying majority stakes in specialist asset administration corporations world wide. Earlier than that, Jonathan Little served as International Co-Head of Asset and Wealth Administration at BNY Mellon, the place he additionally served as Vice Chairman of the Asset Administration Enterprise and Chairman of the Dreyfus Company; and, was Chairman of Perception Funding Administration. Earlier in his profession, he was Head of Worldwide Funds and Sub-Advisory at JP Morgan Funding Administration and held key roles at Constancy Investments Worldwide.
This press launch could comprise forward-looking statements throughout the that means of the Personal Securities Litigation Reform Act of 1995. These statements could embody, with out limitation, any statements preceded by, adopted by or together with phrases similar to “goal,” “imagine,” “count on,” “intention,” “intend,” “could,” “anticipate,” “assume,” “funds,” “proceed,” “estimate,” “future,” “goal,” “outlook,” “plan,” “potential,” “predict,” “undertaking,” “will,” “can have,” “possible,” “ought to,” “would,” “may” and different phrases and phrases of comparable that means or the unfavorable thereof. Such forward-looking statements contain recognized and unknown dangers, uncertainties and different essential components past Victory Capital’s management such because the COVID-19 pandemic and its impact on our enterprise, operations and monetary outcomes going ahead, as mentioned in Victory Capital’s filings with the SEC, that might trigger Victory Capital’s precise outcomes, efficiency or achievements to be materially totally different from the anticipated outcomes, efficiency or achievements expressed or implied by such forward-looking statements.
Though it isn’t doable to determine all such dangers and components, they embody, amongst others, the next: reductions in AUM based mostly on funding efficiency, consumer withdrawals, tough market circumstances and different components similar to a pandemic; the character of the Firm’s contracts and funding advisory agreements; the Firm’s means to keep up historic returns and maintain its historic progress; the Firm’s dependence on third events to market its methods and supply services or products for the operation of its enterprise; the Firm’s means to retain key funding professionals or members of its senior administration group; the Firm’s reliance on the expertise programs supporting its operations; the Firm’s means to efficiently purchase and combine new firms; the focus of the Firm’s investments in long-only small- and mid-cap fairness and U.S. shoppers; dangers and uncertainties related to non-U.S. investments; the Firm’s efforts to determine and develop new groups and techniques; the power of the Firm’s funding groups to determine applicable funding alternatives; the Firm’s means to restrict worker misconduct; the Firm’s means to fulfill the rules set by its shoppers; the Firm’s publicity to potential litigation (together with administrative or tax proceedings) or regulatory actions; the Firm’s means to implement efficient info and cyber safety insurance policies, procedures and capabilities; the Firm’s substantial indebtedness; the potential impairment of the Firm’s goodwill and intangible belongings; disruption to the operations of third events whose capabilities are integral to the Firm’s ETF platform; the Firm’s willpower that Victory Capital shouldn’t be required to register as an “funding firm” underneath the 1940 Act; the fluctuation of the Firm’s bills; the Firm’s means to answer current traits within the funding administration business; the extent of regulation on funding administration corporations and the Firm’s means to answer regulatory developments; the competitiveness of the funding administration business; the twin class construction of the Firm’s widespread inventory; the extent of management over the Firm retained by Crestview GP; the Firm’s standing as an rising progress firm and a managed firm; and different dangers and components listed underneath “Danger Elements” and elsewhere within the Firm’s filings with the SEC.
Such forward-looking statements are based mostly on quite a few assumptions concerning Victory Capital’s current and future enterprise methods and the setting through which it’ll function sooner or later. Any forward-looking assertion made on this press launch speaks solely as of the date hereof. Besides as required by regulation, Victory Capital assumes no obligation to replace these forward-looking statements, or to replace the explanations precise outcomes may differ materially from these anticipated within the forward-looking statements, even when new info turns into accessible sooner or later.
About Victory Capital
Victory Capital is a diversified international asset administration agency with $136.eight billion in belongings underneath administration as of August 31, 2020. The Firm operates a next-generation enterprise mannequin combining boutique funding qualities with the advantages of a totally built-in, centralized working and distribution platform.
Victory Capital offers specialised funding methods to establishments, intermediaries, retirement platforms and particular person buyers. With 9 autonomous Funding Franchises and a Options Platform, Victory Capital provides a big selection of funding kinds and funding autos together with actively managed mutual funds, individually managed accounts, rules-based and energetic ETFs, multi-asset class methods, custom-designed options and a 529 Faculty Financial savings Plan.
About Alderwood Capital
Alderwood Capital was based in 2020 by Jonathan Little. Alderwood offers recommendation, consultancy and help providers to asset managers and controlled entities trying to make investments within the international asset administration sector.
Alderwood is at the moment searching for FCA authorisation to handle a long-term closed finish fund. For extra info, please go to https://alderwoodcap.com.
Claire Lewis / Toto Reissland
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Matthew Dennis, CFA
Chief of Employees
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