Amundi has announced a strategic partnership with Victory Capital that will see Amundi U.S. combined into Victory in exchange for shares that will make Amundi Victory’s largest shareholder, with a stake of 26.1 percent.
Amundi U.S. currently manages more than $104 billion of assets. Victory Capital has almost $180 billion of assets under management.
The strategic partnership will allow clients to benefit from a broader range of U.S. asset classes, Amundi wrote in a press release, including actively managed fixed income, equity, multiasset investment strategies and infrastructure assets offered through a variety of investment vehicles.
The partnership will see Amundi being the distributor of Victory’s products outside the United States, while Victory will become the distributor of Amundi’s solutions inside the United States, to be formalized through a 15-year reciprocal distribution agreement.