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Rating:Virtus Seals an $8.3B-AUM Deal Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 13, 2023

Virtus Seals an $8.3B-AUM Deal

Reported by Neil Anderson, Managing Editor

The folks at a publicly traded, multi-boutique asset manager have finalized their planned purchase of an $8.3-billion-AUM (as of February 28) liquid alts quant shop from another multi-boutique.

George Robert Aylward
Virtus Investment Partners, Inc.
President, CEO
Last week, George Aylward, president and CEO of Virtus Investment Partners, Inc. [profile], confirmed that the Hartford, Connecticut-based firm has closed on its acquisition of Boston-based AlphaSimplex, LLC [profile] from Natixis Investment Managers [profile]. The deal closed on April 1 and was first unveiled back in October 2022.

Piper Sandler & Co. advised Virtus on the deal, while RBC Capital Markets, LLC advised Natixis. In terms of legal advice, Morgan Lewis & Bockius LLP supported Virtus, while Ropes & Gray LLP supported Natixis. Pricing and terms of the deal have not been publicly disclosed.

The Virtus team expects to adopt AlphaSimplex's two U.S. mutual funds next month. They also expect to adopt AlphaSimplex's UCITs fund in Q3, pending regulatory approval. AlphaSimplex's leadership team includes: Duncan Wilkinson, CEO; Alexander Healy, chief investment officer; and Kathryn Kaminski, chief research strategist. Virtus now has 21 boutiques.

According to the Virtus team, AlphaSimplex will keep its own brand, culture, and investment process, like other Virtus boutiques, while Virtus will support the boutique with marketing, distribution, and back-office capabilities. Aylward lauds AlphaSimplex for its "innovative capabilities that rely on researching and analyzing market behaviors and employing a proprietary risk management process to help investors succeed in ever-evolving markets."

"We are pleased to have the well-respected team at AlphaSimplex join us as an affiliated manager and look forward to supporting their continued growth," Aylward states. 

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