Victory Capital Holdings acquiring French firm's U.S. business

San Antonio’s Victory Capital Holdings Inc. is a step closer to acquiring the $104 billion U.S. business of a French money manager. Victory has reached a definitive agreement for Paris-based Amundi’s U.S. business to be combined with Victory in exchange for a 26.1% stake in the publicly traded San Antonio asset management firm. No cash payments are involved.

San Antonio CEOs got bigger paychecks last year as companies' profits fell. See who took home most. As part of the transaction, the companies will enter 15-year agreements to distribute each other’s investment products. Amundi will be the distributor of Victory’s investment offerings outside of the U.S while Victory will become the exclusive distributor of Amundi’s non-U.S. products in this country. Expanding Victory’s distribution reach outside the U.S.

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