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Laxman Pai, Opalesque Asia:

Victory Capital, a diversified global asset management firm with $132.7 billion in AUM has agreed to acquire THB Asset Management, the Connecticut-based equity manager with $435 million in AUM.

The transaction is expected to close in early 2021 and be immediately accretive to earnings, said a press note from Victory.

"Consistent with Victory Capital's model, THB's investment team will become employees of the Company and the newly created Franchise will be subject to a compensation agreement based on revenue sharing. No material consideration will be paid for the assets," it said.

Regarding Victory Capital's acquisition of THB Asset Management, Victory Chairman and CEO David Brown said in a statement: "THB has a 38-year history with an impressive investment performance track record. All of its strategies have consistently outperformed respective benchmarks throughout various market cycles and rank among the top tier of their strategy peer groups."

Founded in 1982, and formerly known as Thomson, Hortsmann & Bryant, THB Asset Management is based in Norwalk, CT, and will remain in its current location.

"THB's $435 million in assets is across microcap, small-cap, and midcap equity asset classes, including the U.S., global and international strategies," Brown added.

"THB serves clients in the U.S. and in Europe and Australia through long-established partnerships with Carolon Capital and Brookvine, providing Victory Capital wi......................

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