Davis Polk is advising Crestview Partners on its $246 million acquisition of Victory Capital Management Inc. from KeyCorp. The transaction, which is subject to receipt of regulatory approvals and other customary closing conditions, is expected to close in the third quarter of 2013.
Crestview Partners is a value-oriented private equity firm based in New York with approximately $4 billion of capital under management. Victory Capital Management is an investment advisory firm headquartered in Cleveland, Ohio with $22.1 billion in assets under management or advisement and 144 employees. Cleveland-based KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $89 billion.
The Davis Polk corporate team includes partner Paul R. Kingsley and associates Harold Birnbaum and Samuel Burley. Partner Gregory S. Rowland and associate David Lenzi are providing investment management advice. Partners Jean M. McLoughlin and Edmond T. FitzGerald and associate Jessica Neidhart Agostinho are providing employee benefits advice. Partner Lawrence E. Wieman is providing credit advice. Partner Kathleen Ferrell is providing tax advice. All members of the Davis Polk team are based in the New York office.
