8-K: Victory Capital to acquire First Eagle, creating a $571 billion global asset manager

Victory Capital will acquire 100% of First Eagle Investments, which had approximately $222 billion in AUM as of July 31, 2026. The combined company is expected to have approximately $571 billion in total client assets. First Eagle brings positive net flows in each of the last three years and year to date, plus a $41 billion CLO and alternative credit platform. First Eagle will operate on Victory Capital’s platform while retaining its brand, investment autonomy, and existing investment processes.

Victory Capital will acquire 100% of First Eagle Investments, which had approximately $222 billion in AUM as of July 31, 2026. The combined company is expected to have approximately $571 billion in total client assets. First Eagle brings positive net flows in each of the last three years and year to date, plus a $41 billion CLO and alternative credit platform. First Eagle will operate on Victory Capital’s platform while retaining its brand, investment autonomy, and existing investment processes.