Robert V. Delaney, Jr.
Victory Capital HoldingsAbout Robert V. Delaney, Jr.
Independent director of Victory Capital Holdings, Inc. since May 2022; career private equity investor and former Goldman Sachs partner with leadership roles including head of Asia private equity and global leveraged finance; began career as a CPA at Arthur Andersen; MBA (Baker Scholar) from Harvard Business School, M.S. in Accounting from NYU Stern, B.A. from Hamilton College; serves on Crestview’s investment committee; identified by VCTR as an independent director.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Goldman Sachs | Partner; head of private equity business in Asia; head of global leveraged finance; led workout advisory/restructuring | Pre-2007 (prior to Crestview) | Expanded GS private equity across Asia; built leadership in high yield/leveraged loans |
| Arthur Andersen | CPA | Early career | Accounting training and credential foundation |
| Crestview Partners | Partner/Managing Director; member of investment committee; officer | 2007–present | Investment committee voting member; manages legacy energy portfolio; governance interlock with VCTR via Crestview shareholdings |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Select Energy Services, Inc. (NYSE: WTTR) | Director; Chairman of Compensation Committee; Lead Director | Board since 2016 (and SES Holdings since 2010) | Chair comp; independent; energy industry oversight |
| Upwell Water | Director | As of 2024–2025 proxy | Board service noted in VCTR proxy |
| Silver Creek Oil & Gas, LLC; Silver Creek Permian, LLC; Endurance Lift Holdings, LLC; CP Energy Holdings, LLC; W Energy Partners II LLC | Director | Ongoing | Private energy boards; investment oversight |
| Hamilton College | Vice Chairman and Trustee; Chair of Investment Committee | Ongoing | Oversees endowment investment committee |
Board Governance
- Committee assignments at VCTR (2024–2025): Compensation Committee member; independent director (asterisk denotes independence). Audit: Hirtler-Garvey (Chair), Davanzo, Rappaport. Nominating: DeMartini (Chair), Jackson. Compensation: Rappaport (Chair), Davanzo, DeMartini, Delaney.
- Board activity: 2024—Board held 14 meetings; Audit 10; Compensation 6; Nominating 3; each director attended at least 75% of meetings of the Board and their committees. 2023—Board held 6; Audit 10; Compensation 5; Nominating 3; each director other than Milton Berlinski attended at least 75%.
- Independence: VCTR identifies Delaney as an independent director.
Fixed Compensation
Director compensation earned for FY2024:
| Component | Amount | Notes |
|---|---|---|
| Board annual compensation | $185,000 | Non-employee director retainer |
| Committee membership fee (Compensation Committee) | $7,500 | Member (not chair) |
| Equity (restricted stock awards; fully vested at grant) | $100,000 | Quarterly RSAs; $25,000 grant-date fair value per quarter |
| Total | $192,500 | Sum of components |
Director compensation table (FY2024):
| Name | Cash Fees ($) | Stock Awards ($) | All Other ($) | Total ($) |
|---|---|---|---|---|
| Robert V. Delaney, Jr. | 92,500 | 100,000 | — | 192,500 |
Additional detail:
- Delaney elected to receive the $92,500 cash portion in fully vested restricted stock grants; all rights, title and interest in shares issued under these RSAs assigned to Crestview Advisors, L.L.C.
Performance Compensation
| Performance-linked elements in director pay | Status | Source |
|---|---|---|
| Performance metrics (TSR, EPS, AUM, ESG) tied to director compensation | None disclosed; director equity awards are fully vested RSAs (no performance conditions) | FY2024 proxy |
| Deferrals | Option to elect compensation into VCH Director Deferred Compensation Plan (DC Plan) or stock; no performance metrics disclosed for directors | FY2024 proxy |
Other Directorships & Interlocks
| Entity | Relationship | Details |
|---|---|---|
| Crestview GP/Crestview Victory | Significant stockholder of VCTR; Delaney is on Crestview investment committee | 2023: Crestview GP beneficially owned 22,399,573 shares; investment committee included Delaney; voting decisions require committee majority; individuals disclaim beneficial ownership beyond pecuniary interest. |
| Crestview holdings update (2025) | Ongoing significant ownership | 7,591,983 shares directly by Crestview Victory; 23,890 shares by Crestview Advisors (includes 3,729 shares granted to Delaney in lieu of cash fees and assigned to Crestview Advisors); investment committee members include Delaney; decisions require majority and chair approval; individuals disclaim sole voting/disposition authority. |
| Select Energy Services (WTTR) | Public company directorship | Independent director; Compensation Committee chair; Lead Director; brings energy sector expertise. |
Expertise & Qualifications
- Deep transactional and investment banking experience; private equity investing; leadership in leveraged finance and restructuring; Asia private equity build-out at Goldman Sachs.
- Financial literacy from CPA background; advanced degrees in business and accounting; governance experience across public and private boards.
- Endowment investment oversight as chair of Hamilton College Investment Committee.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Total Common Stock | Notes |
|---|---|---|---|
| Robert V. Delaney, Jr. | 64,559 | * (less than 1%) | 2023 proxy table |
| Form 3/A (amended) reporting | 62,968 shares (indirect via 2007 Delaney Family LLC) | — | Amendment to initial Form 3 to reflect indirectly held shares |
| Crestview GP (principal stockholder) | 22,399,573 (as of 3/10/23) | 33.4% | Beneficial ownership via Crestview Victory and related entities; committee includes Delaney |
| Crestview holdings (2025 update) | 7,591,983 (Crestview Victory); 23,890 (Crestview Advisors, incl. 3,729 assigned from Delaney RSAs) | — | 2025 proxy update; individuals disclaim sole power |
Ownership alignment:
- Director equity awards are fully vested RSAs; Delaney elected and assigned portions to Crestview Advisors, aligning his compensation with the major shareholder’s entity rather than personal holdings.
Governance Assessment
- Board effectiveness: Delaney adds strong capital markets and restructuring expertise; serves on Compensation Committee, contributing to pay oversight; identified as independent. Attendance met the company’s 75% expectation in 2024 and 2023 for directors (with one exception not including Delaney).
- Potential conflicts/interlocks: Material interlock with Crestview, a significant stockholder in VCTR; Delaney is a voting member of Crestview’s investment committee that controls Crestview’s VCTR holdings; his director RSAs are assigned to Crestview Advisors, creating perceived alignment primarily with a sponsoring shareholder rather than direct personal ownership. This elevates related-party exposure and could constrain independence perceptions in matters implicating Crestview.
- Director compensation structure: Cash/equity mix is standard for VCTR; equity grants for directors are fully vested and time-based with no performance metrics—limited pay-for-performance linkage at board level; Delaney additionally opted for stock in lieu of cash, but assignment to Crestview Advisors dilutes individual “skin in the game.”
- Independence and committee roles: Listed as independent; not a committee chair at VCTR; committee structure is conventional with clear charters; presence on Compensation Committee is notable given Crestview’s influence—boards typically monitor recusal practices when conflicts arise.
RED FLAGS
- Related-party/interlock: Significant Crestview ownership and Delaney’s role on Crestview’s investment committee (voting control framework) plus assignment of director RSAs to Crestview Advisors—heightened conflict-of-interest risk; requires robust recusals and disclosure.
- Ownership alignment: Delaney’s personal beneficial ownership is <1% and RSAs assigned to Crestview Advisors—reduced direct economic alignment with minority shareholders; monitoring of director ownership guidelines and pledging/hedging prohibitions would be prudent (not specifically disclosed in VCTR proxy excerpts).
Overall, Delaney brings valuable financial and restructuring competence, but his Crestview interlocks and RSA assignments to Crestview Advisors present governance optics that warrant strict conflict management and transparent recusals on matters involving Crestview or capital structure decisions.