Virtus Investment Partners

What Virtus Investment Partners does

Virtus Investment Partners, Inc. (NYSE: VRTS) is a publicly traded multi-boutique asset management firm headquartered at One Financial Plaza in Hartford, Connecticut. Founded in 1996 as part of The Phoenix Companies and spun off as an independent public company in 2008, Virtus operates a distinctive multi-manager, multi-strategy model encompassing 16 affiliated investment boutiques across U.S. and international locations. These boutiques span systematic global equity (Virtus Systematic, AlphaSimplex), growth equity (Silvant, Kayne Anderson Rudnick, Zevenbergen, SGA), value equity (NFJ, Ceredex), specialty fixed income (Newfleet, Seix), emerging markets debt (Stone Harbor), real assets (Duff & Phelps), event-driven alternatives (Westchester), multi-asset solutions (Virtus Multi-Asset), and—most recently—private credit (Keystone National Group, Crescent Cove Advisors).

The company distributes investment products through multiple channels and vehicle types: open-end mutual funds, 26 actively managed ETFs, listed closed-end funds, retail and institutional separate accounts, variable insurance trusts, collective investment trusts (CITs), and UCITS-compliant international funds. The platform serves individual investors, financial advisors and broker-dealers, institutional investors (corporate and public retirement plans, endowments, foundations, insurance companies, Taft-Hartley plans), and international professional investors through distribution offices in London, Hong Kong, and Singapore.

Virtus generates revenue primarily through asset-based management fees, with Q1 2026 revenue of $199.5 million and an effective fee rate guided at 41-42 basis points (stepping higher as private credit assets contribute). The firm managed approximately $149.0 billion in AUM as of Q1 2026 (later recovering to $156.5 billion by April 2026), with the 26-ETF platform reaching $5.2 billion in AUM, up 72% year-over-year. Notable recent strategic moves include the March 2026 majority acquisition of Keystone National Group ($200 million upfront plus up to $170 million deferred) and a December 2025 minority stake in Crescent Cove Advisors ($40 million), both signaling a deliberate shift toward higher-fee private credit capabilities alongside the public-market multi-boutique core.

Name

Virtus Investment Partners

Legal name

Virtus Investment Partners, Inc.

Website

https://corporate.virtus.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Virtus Investment Partners (NYSE: VRTS) is a publicly traded multi-boutique asset manager with 16 affiliated investment boutiques managing approximately $149 billion in assets across equity, fixed income, alternatives, and private credit, serving institutional, retail, financial advisor, and international investors through multiple product wrappers.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

akta.pro secondary industries

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ), Values-Based/ESG & Impact-Focused RIAs (FSAAACAK)

Keywords

• Multi-boutique asset management
• Investment management services
• Mutual fund management
• ETF investment products
• Private credit lending

Headquarters

HQ city

Hartford

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Asset Management Fees: Management fees calculated as a percentage of assets under management across ETFs, mutual funds, closed-end funds, and separate accounts. Q1 2026 revenues of $199.5 million with fee rates guided at 41-42 basis points for Q1, stepping to 43-45 basis points longer-term as higher-fee private credit assets contribute.
2. Advisory and Sub-Advisory Fees: Fees from advisory and sub-advisory relationships with affiliated and unaffiliated investment managers. Multiple sub-advisory arrangements including Voya Investment Management for convertible and income funds, Newfleet Asset Management for multi-sector strategies.
3. Performance Fees (minor): Some strategies may generate performance-based fees though primary revenue is AUM-based management fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Virtus Investment Partners operates a multi-boutique asset management platform that partners with 16 distinct affiliated investment managers to deliver investment strategies across equity, fixed income, and alternatives. Products are distributed through mutual funds, actively managed ETFs, closed-end funds, retail separate accounts, variable insurance trusts, institutional mandates, and UCITS funds for international investors.

Product overview

Virtus Investment Partners operates a distinctive multi-boutique, multi-strategy investment platform offering a broad array of investment solutions. The company partners with 16 distinct investment managers (AlphaSimplex Group, Ceredex Value Advisors, Crescent Cove Advisors, Duff & Phelps Investment Management, Kayne Anderson Rudnick, Keystone National Group, Newfleet Asset Management, NFJ Investment Group, Seix Investment Advisors, Silvant Capital Management, Stone Harbor Investment Partners, Sustainable Growth Advisers, Virtus Multi-Asset, Virtus Systematic, Westchester Capital Management, and Zevenbergen Capital Investments), each with distinct investment philosophies and styles. The platform provides access to investment strategies through multiple product types including mutual funds, closed-end funds, ETFs (Virtus ETF Solutions with 26+ actively managed ETFs), retail separate accounts, variable insurance trusts, institutional accounts, and UCITS funds for international investors. The products span all major asset classes (domestic and international equity, fixed income, and alternatives) across all market capitalizations (large, mid, and small) and investment styles (growth, blend, and value).

Differentiator

Problem solved

Functional benefit

Brands

• AlphaSimplex Group: Quantitative investment strategies
• Ceredex Value Advisors
• Crescent Cove Advisors
• Duff & Phelps Investment Management
• Kayne Anderson Rudnick
• Keystone National Group
• Newfleet Asset Management
• NFJ Investment Group
• Seix Investment Advisors
• Silvant Capital Management
• Stone Harbor Investment Partners
• Sustainable Growth Advisers
• Virtus Multi-Asset
• Virtus Systematic
• Westchester Capital Management
• Zevenbergen Capital Investments

Products and services

• Virtus ETF Solutions Multi-manager ETF platform offering actively managed exchange-traded funds across various asset classes and strategies, distributed through wealth management platforms, broker-dealers, and direct channels. ETF AUM reached $5.2 billion, up 72% year-over-year as of Q1 2026.
• Virtus Mutual Funds Collection of open-end mutual funds managed by Virtus and its affiliate investment managers across equity, fixed income, and alternative strategies, distributed through financial advisors and broker-dealers.
• Virtus Closed-End Funds Portfolio of listed closed-end funds offering income and total return strategies, including Virtus Convertible & Income Fund (NCV), Virtus Convertible & Income Fund II (NCZ), Virtus Equity & Convertible Income Fund (NIE), Virtus Global Multi-Sector Income Fund, and Virtus Artificial Intelligence & Technology Opportunities Fund.
• Retail Separate Accounts Separately managed accounts offering customized investment solutions for individual investors through fee-based platforms, distributed through registered investment advisors and broker-dealers.
• Variable Insurance Trusts Investment vehicles designed for variable annuity and life insurance products, offering various investment strategies accessible through insurance platforms.
• Virtus Global Funds (UCITS) UCITS-compliant investment funds for non-U.S. professional investors, offering access to Virtus investment strategies through regulated fund structures distributed via offices in London, Hong Kong, and Singapore.
• Institutional Investments Investment solutions for institutional investors including corporate and public retirement plans, endowments, foundations, trusts, insurance companies, and Taft-Hartley plans, delivered through direct mandates and sub-advisory arrangements.
• Collective Investment Trusts (CITs) Bank collective trusts for qualified retirement plans, offering institutional investment strategies at lower cost than comparable mutual fund vehicles.

Quantifiable outcome

• ETF AUM grew 72% year-over-year to $5.2 billion
• +2 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

18 partnerships are on record, tiered core, growth and minor.

• Keystone National GroupcoreStrategic or Co-development Partner · 1 March 2026Virtus completed majority investment in Keystone National Group, a Salt Lake City-based private credit firm specializing in asset-backed lending. Keystone manages $2.5 billion in assets and maintains operational autonomy while contributing private markets capabilities. Deal valued at $200 million upfront with up to $170 million in deferred consideration, expanding Virtus into private credit and asset-backed lending strategies.
• Crescent Cove Advisors LPgrowthStrategic or Co-development Partner · 1 December 2025Virtus completed 35% minority stake investment in Crescent Cove, a San Francisco-based private credit firm lending to middle-market technology companies. Deal financed using existing resources for approximately $40 million, expanding Virtus's alternative investment offerings.
• AlphaSimplex Group, LLCcoreStrategic or Co-development PartnerAffiliated investment manager specializing in systematic investment strategies. Part of Virtus multi-boutique platform providing differentiated quantitative equity solutions.
• Ceredex Value AdvisorscoreStrategic or Co-development PartnerAffiliated value equity manager. Part of Virtus multi-boutique platform managing equity strategies across market capitalizations.
• Duff & Phelps Investment Management Co.coreStrategic or Co-development PartnerAffiliated investment manager founded in 1932, specializing in real assets including listed real estate and infrastructure. Manages Virtus Duff & Phelps Real Estate Income ETF (DPRE).
• Kayne Anderson Rudnick Investment Management, LLCcoreStrategic or Co-development PartnerAffiliated boutique specializing in quality-focused equity strategies. Part of Virtus multi-boutique platform.
• Newfleet Asset ManagementcoreStrategic or Co-development PartnerAffiliated fixed income manager specializing in multi-sector fixed income strategies. Subadvises Virtus Global Multi-Sector Income Fund.
• NFJ Investment GroupcoreStrategic or Co-development PartnerAffiliated global value equity manager based in Dallas, Texas since 1989. Specializes in value investing at intersection of quality and shareholder yield.
• Seix Investment AdvisorscoreStrategic or Co-development PartnerAffiliated specialty fixed income manager since 1992, providing investment grade and leveraged finance capabilities. Division of Virtus Fixed Income Advisers.
• Silvant Capital Management LLCcoreStrategic or Co-development PartnerAffiliated growth equity manager seeking disruptive companies with strong growth potential. Manages multiple growth equity funds and ETFs.
• Stone Harbor Investment PartnerscoreStrategic or Co-development PartnerAffiliated emerging markets debt manager with three decades of experience. Division of Virtus Fixed Income Advisers managing EM sovereign, corporate, and local currency debt strategies.
• Sustainable Growth Advisers (SGA)coreStrategic or Co-development PartnerAffiliated global growth equity manager founded in 2003, managing U.S., global, emerging markets, and international portfolios using team-based fundamental approach.
• Westchester Capital Management, LLCcoreStrategic or Co-development PartnerAffiliated event-driven alternatives manager for over 40 years specializing in merger arbitrage and credit event strategies. Manages The Merger Fund.
• Zevenbergen Capital Investments LLCcoreStrategic or Co-development PartnerAffiliated innovative growth equity manager since 1987 specializing in high-growth companies driving disruptive innovation, often through technological advances.
• Virtus Multi-AssetcoreStrategic or Co-development PartnerInternal division providing differentiated investment solutions across asset classes, regions, factors, sectors, and currencies using global multi-asset portfolios.
• Virtus SystematiccoreStrategic or Co-development PartnerInternal division managing differentiated systematic global equity investment solutions across asset classes and regions using behavioral, fundamental, and valuation insights with AI.
• Voya Investment ManagementgrowthStrategic or Co-development PartnerSubadviser for Virtus Convertible & Income Fund and Virtus Artificial Intelligence & Technology Opportunities Fund. Provides convertible securities and option writing expertise.
• Willkie Farr & Gallagher LLPminorOthersLegal counsel advising on Keystone National Group acquisition transaction valued at $200 million with potential additional deferred consideration.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Lazard: Lazard's asset management division manages active equity, fixed income, and alternatives strategies for institutional and intermediary clients globally — comparable in multi-affiliate active management and global distribution (London/HK/Singapore presence) to Virtus.
• Invesco: Invesco is a global incumbent asset manager with active and passive strategies across ETFs (including QQQ), mutual funds, and institutional mandates — overlapping product set with Virtus ETF Solutions and mutual fund franchises but at meaningfully larger AUM scale.

Direct peers

• Affiliated Managers Group: AMG is the closest direct peer to Virtus — a publicly traded multi-affiliate/multi-boutique asset manager aggregating numerous specialized investment franchises under a centralized distribution and operations platform. Both firms pursue the same 'boutique aggregator' strategy.
• Artisan Partners Asset Management: Artisan Partners is a publicly traded high-value-added active asset manager with multiple autonomous investment teams — a boutique-style operating model directly comparable to Virtus's multi-affiliate structure, including shared emphasis on differentiated active strategies.
• Victory Capital Holdings: Victory Capital is a publicly traded multi-boutique asset manager operating a federation model of 10+ affiliated investment franchises distributed across intermediary and institutional channels — directly comparable federation/aggregator structure to Virtus.
• Cohen & Steers: Cohen & Steers is a publicly traded specialty asset manager with a focused lineup of real assets and income-oriented strategies distributed via institutional and intermediary channels — comparable specialty-manager positioning to several Virtus affiliates (e.g., Duff & Phelps real assets, Westchester event-driven).
• AllianceBernstein Holding: AllianceBernstein is a publicly traded asset manager with diversified equity, fixed income, and multi-asset strategies distributed to institutional, retail, and private wealth clients — comparable scale, channel mix, and AUM-based revenue model to Virtus.
• WisdomTree Investments: WisdomTree is a publicly traded asset manager focused on ETFs and model portfolios across equity, fixed income, and alternatives — comparable in its growing actively managed ETF platform (similar to Virtus ETF Solutions, which reached $5.2B at +72% YoY).
• Federated Hermes: Federated Hermes is a publicly traded global investment manager offering mutual funds, ETFs, SMAs, and institutional mandates across equity, fixed income, and liquidity strategies — directly comparable to Virtus in product breadth, distribution channels, and public asset management profile.
• Janus Henderson Group: Janus Henderson is a publicly traded global asset manager with active equity and fixed income strategies distributed across institutional, intermediary, and self-directed channels — overlapping product set (mutual funds, ETFs, SMAs) and global distribution footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/virtus
• LinkedInlinkedin.com/company/virtus-investment-partners
• Facebookfacebook.com/virtusinvestmentpartners

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries16 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Virtus Investment Partners