Virtus Investment Partners to Buy Stone Harbor Investment Partners
Posted on 06/28/2021
Virtus Investment Partners, Inc. (NASDAQ: VRTS) has affiliates that include Ceredex Value Advisors, Duff & Phelps Investment Management, Kayne Anderson Rudnick Investment Management, Newfleet Asset Management, NFJ Investment Group, Seix Investment Advisors, Silvant Capital Management, and Sustainable Growth Advisers.
Virtus Investment Partners entered into an agreement to acquire New York-based Stone Harbor Investment Partners LP, a manager of emerging markets debt, multi-asset credit, global corporates, and other strategies with US$ 15.4 billion of assets under management. Founded in 2006, Stone Harbor offers credit strategies primarily to global institutional clients, including sovereign wealth investors, pension plans, foundations, endowments and insurance companies. Its strategies are also available through open- and closed-end mutual funds, including the Stone Harbor Emerging Markets Debt Fund (SHMDX), and to non-U.S. investors through UCITS and QIAIF pooled funds.
Stone Harbor will maintain autonomy over its investment processes, brand and culture, ensuring continuity for its clients, consultants, and distribution partners, who will collaborate with the same investment teams. Virtus will acquire 100% of Stone Harbor.
Broadhaven Capital Partners acted as financial advisor and Goodwin Procter LLP was the legal advisor to Virtus on the transaction. RBC Capital Markets, LLC acted as financial advisor and Morgan Lewis & Bockius LLP was the legal advisor to Stone Harbor.