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Victory Capital Acquires New Energy Capital to Focus on Alternative Investments
Tuesday 14 September 2021

Texas-based investment management firm Victory Capital Management Inc. Victory Capital Management Inc. has reached a definitive agreement to acquire 100% of New Hampshire-based alternative asset management firm, New Energy Capital Partners (NEC) to launch alternative investments platform, the company said.

Terms of the transaction were not disclosed.

Closing is subject to customary approvals, conditions and consents. NEC will become Victory Capital's 11th Investment Franchise and represents the company's first Franchise focusing exclusively on alternative investments. NEC is focussed on debt and equity investments in clean energy infrastructure projects and companies.

The transaction is expected to close during the fourth quarter of 2021 and be immediately accretive to Victory Capital's earnings.

BofA Securities is serving as financial advisor to Victory Capital, and Willkie Farr and Gallagher LLP is serving as legal advisor to Victory Capital. UBS is serving as financial advisor to NEC, and Choate Hall and Stewart LLP is serving as NEC's legal advisor.

Victory Capital Management is a wholly owned operating subsidiary of Victory Capital Holdings, Inc. (NASDAQ: VCTR).
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Date Published: 14/09/2021

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