Virtus Investment Partners Completes Acquisition of Westchester Capital Management


HARTFORD, Connecticut., October 1, 2021 / PRNewswire / – Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-store asset management business, today completed the previously announced acquisition of Westchester Capital Management, recognized leader in global event strategies for more than 30 years with $ 5.0 billion1 assets under management.

The transaction further diversifies Virtus’ investment offerings with Westchester Capital’s differentiated and uncorrelated strategies that invest in publicly announced events such as mergers, acquisitions, buyouts, spinoffs and other corporate reorganizations.

Westchester Capital, located at Valhalla, New York, introduced The merger fund® (Actions I: MERIX) in 1989 as the first FCP dedicated exclusively to merger arbitrage. Roy Behren and Michael shannon, Co-Chairs and Co-Chiefs of Investments, will continue to lead the company and manage their strategies with the same philosophy and approach to investing.

“We are delighted that Roy, Michael and the highly respected team at Westchester Capital are joining us as an Affiliate Manager,” said George R. Aylward, President and CEO of Virtus. “We are particularly looking forward to supporting their continued growth by making their distinctive strategies available through our extensive distribution platform. “

About Westchester Capital Management

With a history of over three decades, Capital of Westchester has strived to generate consistent absolute returns through the disciplined execution of alternative event-driven investment strategies. Through a range of investment portfolios, including its flagship fund, The Merger Fund, it provides strategies for investors to invest in publicly announced events such as mergers, acquisitions, takeovers, spinoffs and divestitures. ‘other business reorganizations, with the aim of profiting from the timely completion of these transactions.

About Virtus Investment Partners, Inc.

Virtus Investment Partners, Inc. (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers uniquely committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and selected sub-advisors, each with a distinct investment style, stand-alone investment process and individual brand. Virtus Investment Partners provides access to a variety of investment styles across multiple disciplines to meet a wide range of investor needs. In addition to Westchester Capital, Virtus’ affiliate managers include Ceredex value advisers, Duff & Phelps Investment Management, Kayne Anderson Rudnick Investment Management, Newfleet asset management, NFJ investment group, Seix Investment Advisors, Silvant Capital Management, and Sustainable growth advisors.

1 From June 30, 2021

SOURCE Virtus Investment Partners, Inc.

Related links

https://www.virtus.com/