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Laxman Pai, Opalesque Asia: Virtus Investment Partners, a multi-boutique asset management shop, has agreed to acquire Stone Harbor Investment Partners, a manager of emerging markets debt, multi-asset credit, global corporates, and other strategies with $15.4 billion of assets under management.
Terms of the deal, expected to close by the end of the year, were not disclosed. Stone Harbor will continue to operate autonomously under its own name and will be Virtus' 11th investment manager affiliate.
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.
Virtus Investment Partners 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.
"The addition of Stone Harbor as an affiliated manager will further enhance and diversify Virtus' investment capabilities with a highly-regarded emerging markets debt strategy that has a 30-year track record," said a press release from the boutique investment manager.
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