The sale hands Genstar Capital a full exit from the value-investing manager it has backed, while adding scale to Victory Capital's multi-boutique platform.
Genstar Capital has agreed to sell First Eagle Investments to Victory Capital Management for approximately 7 billion dollars. The transaction represents a full exit for Genstar from its investment in the asset manager.
Neither side has disclosed the financing structure, expected closing timeline, or regulatory conditions attached to the transaction. Those terms remain pending rather than assumptions investors should fill in on their own.
For Victory Capital, the acquisition adds another established investment brand to a platform built through a series of similar deals. For Genstar, it closes out a holding period in a manager it took private and grew, consistent with the firm's broader push to realize value from mature portfolio holdings.