Victory Capital acquires 100% of First Eagle Investments for ~$7 billion

First Eagle is a New York-based asset manager focused on equity, fixed income, alternative credit and multi-asset strategies with ~$222 billion in AUM

Combined company is expected to have ~$571 billion in AUM

Victory is purchasing First Eagle from Genstar and First Eagle employees

Consideration is comprised of ~$4.4 billion in cash and $2.0 in newly issued Victory Capital shares

Advisors: Victory (PJT Partners, RBC, Willkie Farr & Gallagher), First Eagle (UBS, Bank of America, Ropes & Gray, Davis Polk & Wardwell LLP)