Victory Capital (VCTR) IPO Opens Down 6%

Today's IPO for Victory Capital Holdings, Inc. (NASDAQ: VCTR) opened for trading at $12.25 after pricing 11,700,000 shares at $13.00 per share.

Additionally, Victory Capital has granted the underwriters a 30-day option to purchase up to an additional 1,755,000 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on or about February 12, 2018, subject to customary closing conditions.

J.P. Morgan, BofA Merrill Lynch and Morgan Stanley are serving as joint lead book-running managers and as representatives of the underwriters for the offering. Barclays, Goldman Sachs & Co. LLC and RBC Capital Markets are also acting as joint book-running managers for the offering. Keefe, Bruyette & Woods, A Stifel Company, William Blair and Sandler O’Neill + Partners, L.P. are acting as co-managers for the offering.

Victory Capital is an integrated multi-boutique asset management firm, headquartered in Cleveland, Ohio. As of December 31, 2017, the firm had approximately $61.8 billion in assets under management and advisement. Victory Capital provides institutions, financial advisors and retirement platforms with a variety of asset classes and investment vehicles, including separately managed accounts, collective trusts, mutual funds, ETFs and UMA/SMA vehicles.

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