Add-on Acquisition • Financial Services

Victory Capital Acquires WestEnd Advisors

On November 4, 2021, Victory Capital acquired financial services company WestEnd Advisors for 480M USD

Acquisition Context

This is Victory Capital’s 5th transaction in the Financial Services sector.
This is Victory Capital’s largest (disclosed) transaction.
This is Victory Capital’s 6th transaction in the United States.
This is Victory Capital’s 1st transaction in North Carolina.

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M&A Deal Summary
Date	November 4, 2021
Target	WestEnd Advisors
Sector	Financial Services
Buyer(s)	Victory Capital
Deal Type	Add-on Acquisition
Deal Value	480M USD
Advisor(s)	PJT Partners (Financial) Alston & Bird (Legal)

Target Company

WestEnd Advisors

Charlotte, North Carolina, United States

WestEnd Advisors is an independent institutional asset management firm. WestEnd Advisors provides financial advisors with turnkey, core model allocation strategies serving as holistic solutions and complementary sources of alpha. WestEnd Advisors was founded in 2004 and is based in Charlotte, North Carolina.

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Buyer Overview 1

Buyer

Victory Capital

San Antonio, Texas, United States

Category	Company
Founded	2013
Sector	Financial Services
Employees	460
Revenue	893M USD (2024)

DESCRIPTION

Victory Capital is an investment management firm operating a next-generation, integrated multi-boutique business model with $132.5 billion in assets under management as of July 31, 2020. Victory Capital serves both institutional and retail investors. Victory Capital was founded in 2013 and is based in San Antonio, Texas.

Deal Context for Buyer	#
Overall	6 of 6
Sector: Financial Services	5 of 5
Type: Add-on Acquisition	3 of 3
State: North Carolina	1 of 1
Country: United States	6 of 6
Year: 2021	2 of 2
Size (of disclosed)	1 of 1

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2021-09-13	New Energy Capital Hanover, New Hampshire, United States New Energy Capital is an alternative asset manager investing across the capital structures of clean energy infrastructure projects and companies. New Energy Capital was founded in 2004 and is based in Hanover, New Hampshire.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2021-09-13

New Energy Capital

Hanover, New Hampshire, United States

New Energy Capital is an alternative asset manager investing across the capital structures of clean energy infrastructure projects and companies. New Energy Capital was founded in 2004 and is based in Hanover, New Hampshire.

Buy

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