Alderwood Capital, the new venture from fund-management dealmaker Jon Little, has won a new financial backer in the form of Texas-based asset manager Victory Capital — offering a boost to the firm as it seeks regulatory authorisation.

Victory, which manages $137bn, is investing an undisclosed amount in Alderwood for a 15% stake in the company, and will also participate in its upcoming fund, the companies said in a statement on 21 September.