Victory Capital has acquired a 15% stake in new London-based investment advisory firm Alderwood Capital.
Financial terms were not disclosed, a news release said.
Alderwood Capital takes minority stakes in boutique money managers. It was founded this year by Jonathan Little and aims to raise a single fund to deploy its strategy, subject to regulatory approval.
Mr. Little was managing partner of Northill Capital, a firm that takes majority interests in boutique firms, until June 2019. Northill is a subsidiary of Waypoint Capital, a private investment firm that runs and advises funds associated with the Bertarelli family and other clients. Cyrus Jilla, a member of Waypoint's senior leadership team, was named CEO at Northill in March.
Dave Brown, chairman and CEO of Victory Capital, will sit on the board of Alderwood, a spokeswoman for Alderwood said. Victory, which has $136.8 billion in assets under management, also intends to invest in the fund, the release said.
The investment "significantly broadens our international scope for future growth, particularly in the U.K. and on the European continent," Mr. Brown said in the release. "In addition to expanding opportunities for complementary distribution alliances and strategic partnerships leveraging organizational and regulatory platforms in non-U.S. jurisdictions, it also provides attractive return opportunity on our investment."
Mr. Little highlighted in the same release Victory Capital's "excellent record of supporting businesses over the long term and providing wise counsel to the management teams it backs."
A spokeswoman for Victory declined to comment beyond the release.