secwatch.observer — SEC 8-K summary
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Issuer:     Victory Capital Holdings, Inc. (VCTR)
CIK:        0001570827
Form:       8-K
Filed at:   2026-08-26T20:30:45+00:00
Accession:  0001104659-26-101533
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1570827/000110465926101533/0001104659-26-101533-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1570827/000110465926101533/tm2624030d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-101533

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer