(By Balaseshan) Virtus Investment Partners Inc. (NASDAQ: VRTS), a provider of investment management products and services, said it has closed its previously announced acquisition of Rampart Investment Management.
The acquisition adds about $1.4 billion to Virtus' long-term assets under management. The acquisition also adds customized options strategies to Virtus' investment capabilities for institutional and high-net-worth clients.
As a Virtus affiliate, Rampart maintains its distinctive, independent investment process, dedicated client service functions, and brand. The company has offices in Boston's Financial District.
Rampart, a Boston-based registered investment advisor that is led by co-founders Ronald Egalka, president and chief investment officer, and David Fraley, executive managing director, client services, is now one of Virtus' boutique asset managers.
Rampart is a long-established provider of customized option strategies for institutional and high-net-worth clients. The company uses systematic and disciplined options solutions, including hedged equity strategies integrated with existing investment programs, to provide additional yield from current equity allocations and manage risk in client portfolios.
Recently, Rampart launched a new low volatility equity (LVE) strategy for institutional clients who want to enhance portfolio returns while hedging volatility and downside risk. The new LVE strategy complements Rampart's existing capabilities, including strategies that use its proprietary Rampart Options Management System (ROMS) platform.
VRTS is trading down 0.02% at $93.10 on Thursday. The stock has been trading between $54.33 and $93.74 for the past 52 weeks.