Crestview Partners has agreed to acquire Victory Capital Management from KeyCorp (NYSE: KEY) for $246 million. The sale price consists of $201 million of cash at closing and a seller note, the initial face amount of which will be $45 million. Headquartered in the Cleveland suburb of Brooklyn, OH, Victory Capital Management is an investment advisory firm with $22.1 billion in assets under management and advisement. New York-based Crestview Partners targets investments in the financial services, media, healthcare and energy sectors.
