Amundi: Victory Capital's acquisition of First Eagle by Victory Capital expected to be positive for its earnings per share
As a 27% shareholder in Victory Capital, Amundi indicates that the acquisition of First Eagle Investments for approximately 7 billion dollars will, based on the acquirer's projections, have a positive impact on its own earnings per share. The Paris-based asset manager will remain the leading shareholder of Victory Capital following the completion of the transaction.
A 7 billion dollar transaction creating a platform with 571 billion dollars in assets under management
Amundi responded on August 26, 2026 to the announcement made by Victory Capital Holdings concerning the conclusion of a definitive agreement for the acquisition of First Eagle Investments, for a total amount of approximately 7 billion dollars. The combined entity would manage approximately 571 billion dollars in assets under management, divided between diversified management, equities, fixed income and alternative credit solutions. Amundi clarifies that it is a long-standing partner of First Eagle as well as a strategic and long-term partner and shareholder of Victory Capital. The group distributes the American and global strategies of both companies to its clients located outside the United States. Valérie Baudson, Chief Executive Officer of Amundi, stated: "Victory Capital and First Eagle are two leading asset managers that we know very well: we have been distributing their highly performing American and global strategies to our clients outside the United States for years." She adds that the combined platform will manage approximately 571 billion dollars in assets under management and that Amundi, as a strategic shareholder of Victory Capital and distributor of its solutions outside the United States, supports the transaction.
Amundi anticipates a positive effect on its earnings per share
Amundi holds a 27% economic interest in Victory Capital. Based on the planned financing structure of the transaction, the group will remain the leading shareholder of the acquirer following the completion of the transaction. Victory Capital expects the transaction to have a significant accretive effect on its earnings per share, notably thanks to approximately 280 million dollars in expected net cost synergies. Based on these projections, Amundi indicates that the transaction will have a positive impact on its own earnings per share, following the complete integration of First Eagle by Victory Capital and the full realization of expected synergies. Amundi also clarifies that it expects development opportunities for its distribution partnerships following the completion of the transaction.
Amundi reiterates its positioning and assets under management
A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi manages nearly 2,600 billion euros in assets under management, according to data as of June 30, 2026. The group relies on six international management platforms, located in Paris, London, Dublin, Milan, Tokyo and San Antonio, the latter through its strategic partnership with Victory Capital. Amundi has 5,400 professionals spread across 34 countries and serves more than 200 million investors through a range of solutions in active and passive management, in listed or private assets.
