---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-101533"
form_type: "8-K"
ticker: "VCTR"
cik: "0001570827"
company_name: "Victory Capital Holdings, Inc."
filed_at: "2026-08-26T20:30:45+00:00"
generated_at: "2026-08-26T20:32:04.852580+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Victory Capital to acquire First Eagle for ~$7.0B, creating $571B AUM manager

## Summary
- Total consideration ~$7.0B: $4.4B cash, $2.0B stock, plus assume $575M of First Eagle's 7.25% notes due 2032.
- Combined AUM ~$571B; First Eagle has $222B AUM with positive net flows each of last 3 years.
- Deal expected ~35% accretive to 2027E adjusted EPS; ~$280M net expense synergies; pro forma revenue ~$3.2B.
- Genstar to own ~14.6% of Victory (voting capped at 4.9%), two board seats; David Brown remains CEO/Chairman.
- Expected close by end of Q1 2027; subject to regulatory approvals, client consents, and Victory shareholder approval.

## SEC filing metadata
- accession: 0001104659-26-101533
- form_type: 8-K
- ticker: VCTR
- cik: 0001570827
- company_name: Victory Capital Holdings, Inc.
- filed_at: 2026-08-26T20:30:45+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1570827/000110465926101533/0001104659-26-101533-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1570827/000110465926101533/tm2624030d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-101533
- JSON: https://secwatch.observer/filing/0001104659-26-101533.json
- Plain text: https://secwatch.observer/filing/0001104659-26-101533.txt

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