Victory Capital buys First Eagle for $7 billion, adding $222 billion
By IAN Editorial Desk
26 August 2026·Updated 27 August 2026·1 min read
Primary source: ir.vcm.com
The combined company would have about $571 billion in client assets.
Victory Capital Holdings today agreed to buy First Eagle Investments for about $7.0 billion in cash, newly issued stock and assumed debt, in a full-company acquisition that would add First Eagle’s platform to the listed manager. The deal would bring roughly $222 billion of assets under management into a combined business with about $571 billion in total client assets.
Paying with cash, newly issued equity and assumed debt for 100% of First Eagle shows this is a full-company acquisition rather than a lift-out or distribution partnership.
Sources: ir.vcm.com
