Strategy Amundi and Victory Capital sign a definitive agreement to become strategic partners

Amundi today announces that it has reached a definitive agreement with Victory Capital for their previously announced transaction.

The agreement is in line with the Memorandum of Understanding announced on April 16, 2024:
 

  • Amundi US will be combined with Victory Capital;
     
  • Amundi will become a strategic shareholder of Victory Capital with a 26.1% economic stake in Victory Capital;
     
  • Both parties have entered into 15-year distribution and services agreements, which will be effective upon the closing of the transaction.
     

Under these distribution and services agreements, Amundi will be the distributor of Victory Capital’s US-manufactured active asset management products outside of the US. Additionally, Amundi will become the supplier of non-US manufactured products for Victory’s distribution in the US.

Valérie Baudson

Member of Executive Committee of Crédit Agricole S.A., Chief Executive Officer of Amundi
The transaction will allow Amundi to strengthen its presence in the US via a larger US investment and distribution platform. It will also provide Amundi’s clients worldwide with access to a broader range of high-performing US investment solutions. Thanks to this transaction, Amundi will become a strategic shareholder in a US-based asset management firm with a consistent track record of development. This is a compelling proposition for our clients and our employees. It is also a value-creating deal for our shareholders.

Amundi expects this transaction, which does not include any cash consideration, to result in a material increase in the contribution from US operations to its results, leading to a low single-digit accretion of the adjusted net income and EPS of Amundi.

The transaction is subject to customary closing conditions, and is expected to be completed late in the 4th quarter of 2024 or early 2025.

Ardea Partners is acting as financial advisor and Cleary Gottlieb Steen & Hamilton LLP and Dechert LLP are providing legal counsel to Amundi in connection with this transaction.

Contact

Corentin Henry

Head of Press Relations and Social Media
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  • 07.09.24

    07.09.2024 - PR - Amundi and Victory Capital sign a definitive agreement to become strategic partners

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About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players1, offers over 200 million investors a complete range of savings and investment solutions in active and passive management, in listed and private assets. Developed for a range of distributors (banks, wealth managers, financial advisors…) as well as for institutional investors and corporates, this offering is enhanced by services and technology tools covering the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages close to €2.6 trillion of assets2.

Its six international investment hubs3, its financial and extra-financial research capabilities and its long-standing commitment to responsible investment make Amundi a leading player in the international asset management landscape.

Thanks to its strong local presence, particularly in Europe and Asia, Amundi offers its clients the expertise and advice of 5,400 professionals across 34 countries.

Amundi, a trusted partner, working every day in the interest of its clients and society

www.amundi.com

Footnotes

  1. Source: IPE “Top 500 Asset Managers” published in June 2026, based on assets under management as at 31/12/2025
  2. Amundi data as at 30/06/2026
  3. Paris, London, Dublin, Milan, Tokyo and San Antonio (via our strategic partnership with Victory Capital)

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