NewBridge’s growthinvestment strategy will be added to Victory’s product menu, andmarketed under the name “Victory NewBridge” through both retail andinstitutional distribution channels. The investment process and investment staff at NewBridge will remain intact and will be headed up by James Cowperthwait, current NewBridge CEO, according to a news release.
However, the marketing and administrative functions at NewBridge will be integrated into Victory’s current corporate organization.
The acquisition is expected to close around June 30. The transaction is structured as an asset purchase, and includes incentives for retention of NewBridge personnel. Other terms were not disclosed.
« US Supreme Court Extends Bankruptcy Protection to IRAs