Willkie represented Victory Capital in the transaction.
On November 4, Victory Capital Holdings, Inc. (NASDAQ: VCTR) announced it signed a definitive purchase agreement to acquire assets of THB Asset Management. The transaction will create Victory Capital’s tenth investment franchise. Consistent with Victory Capital’s model, THB’s investment team will become employees of Victory Capital and the newly created franchise will be subject to a compensation agreement based on revenue sharing.
Founded in 1982, THB Asset Management is based in Norwalk, CT, and currently manages approximately $435 million in equity assets in micro-cap, small-cap, and mid-cap asset classes, including strategies managing U.S., international and global portfolios.
Victory Capital is a diversified global asset management firm with $132.7 billion in assets under management as of September 30, 2020. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With nine autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment styles and investment vehicles including, actively managed mutual funds, separately managed accounts, active ETFs, multi-asset class strategies, custom-designed solutions and a 529 College Savings Plan.
The Willkie team was led by partners David Boston and Danielle Scalzo and included partners Geri Anne McEvoy and Justin Browder, and associates Andrew Marmer and Samuel Bolam.