Deals

Genstar Capital to sell First Eagle to Victory Capital in $7bn deal

Thursday, August 27, 2026 · first reported by Private Equity Wire

Genstar Capital to sell First Eagle Investment Management to Victory Capital for ~$7bn ($4.4bn cash + $2bn Victory shares + $575M note assumption); Genstar retains ~14.6% stake; First Eagle brings $222bn AUM; closes Q1 2027.

Firm

Genstar Capital

Also named

First Eagle Investment Management, Victory Capital

Deal value

$7B

Asset class

Private equity

Geography

North America

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