Victory Capital Holdings, Inc., a global asset management firm, has acquired 100% of WestEnd Advisors, LLC.

WestEnd becomes Victory Capital’s 12th investment franchise and marks a new dimension of growth and diversification. WestEnd provides financial advisors with core model allocation strategies. With around $18 billion in assets, the firm offers four ETF strategies and one large cap core strategy.

“The acquisition of WestEnd Advisors is very strategic and transformational to our business,” said David Brown, chairman and CEO of Victory Capital. “It adds a high-quality and proven investment platform as well as a new product capability in a fast-growing market segment.”

BofA Securities is serving as financial advisor to Victory Capital and has provided committed financing in connection with the acquisition. Willkie Farr & Gallagher LLP is serving as legal advisor to Victory Capital. PJT Partners is serving as financial advisor to WestEnd, and Alston & Bird LLP is serving as WestEnd’s legal advisor.