---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-031690"
form_type: "8-K"
ticker: "VCTR"
cik: "0001570827"
company_name: "Victory Capital Holdings, Inc."
filed_at: "2025-04-03T23:59:59+00:00"
generated_at: "2026-05-23T22:36:21.872586+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Victory Capital closes Amundi US acquisition; raises net expense synergy target to $110M

## Summary
- Closes Amundi US acquisition; issues 17.6M shares (21.2% fully diluted, 4.9% voting); total expected to reach 26.1%.
- Reintroduces Pioneer Investments brand; Pioneer had $544M revenue, $119B AUM, $5.5B net flows in 2024.
- Increases net expense synergy target from $100M to $110M; expects >$100M achieved within first year of ownership.
- Enters 15-year reciprocal global distribution agreements with Amundi; Victory strategies to be sold via Amundi's global network.
- Appoints two Amundi designees (Boyer-Chammard, Carrel-Billiard) to Board; Bob Hurst retires.

## SEC filing metadata
- accession: 0001104659-25-031690
- form_type: 8-K
- ticker: VCTR
- cik: 0001570827
- company_name: Victory Capital Holdings, Inc.
- filed_at: 2025-04-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1570827/000110465925031690/0001104659-25-031690-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1570827/000110465925031690/tm2510918d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-031690
- JSON: https://secwatch.observer/filing/0001104659-25-031690.json
- Plain text: https://secwatch.observer/filing/0001104659-25-031690.txt

## Key facts
- Executive change
  Dominique Carrel-Billiard was appointed as Director at Victory Capital Holdings, Inc..
  - Action: appointed
  - Role: Director
  source text: Mr. Carrel-Billiard currently serves as the Seller’s Head of Real and Alternative Assets and has been appointed as a Class III director.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1570827/000110465925031690/0001104659-25-031690-index.htm
- Executive change
  Céline Boyer-Chammard was appointed as Director at Victory Capital Holdings, Inc..
  - Action: appointed
  - Role: Director
  source text: Ms. Boyer-Chammard currently serves as the Seller’s Head of Sustainable Transformation and Organization and has been appointed as a Class II director.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1570827/000110465925031690/0001104659-25-031690-index.htm
- Executive change
  Bob Hurst retired as Director at Victory Capital Holdings, Inc..
  - Action: retired
  - Role: Director
  source text: The Company announced that Bob Hurst, one of Crestview Partners’ nominees on the Company’s board of directors (the “Board”), retired from the Board effective as of April 1, 2025
  evidence_url: https://www.sec.gov/Archives/edgar/data/1570827/000110465925031690/0001104659-25-031690-index.htm
- M&A Transactions
  Victory Capital Holdings, Inc. completed an acquisition involving Amundi Asset Management S.A.S (closed 2025-04-01).
  - Action: acquisition
  - Counterparty: Amundi Asset Management S.A.S
  - Closing: 2025-04-01
  source text: On April 1, 2025, the Company completed the acquisition of Amundi US.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1570827/000110465925031690/0001104659-25-031690-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.