Victory Capital

“Victory Capital (Nasdaq: VCTR) is acquiring First Eagle from Genstar Capital for ~$7B in stock. Genstar, which bought First Eagle just a year ago, will hold a 14.6% stake in Victory.”

“Genstar's First Eagle Flip in Under a Year Signals PE Urgency in Asset Management Consolidation. Genstar Capital acquired First Eagle Investments, then turned around and sold it to Victory Capital for ~$7B in stock within approximately one year — retaining a 14.6% stake in Victory.”