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/PRNewswire/ -- Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-boutique asset management business, today completed its previously...
Paul Glazer stood awkwardly in a dark-blue suit at a podium at the Tel Aviv Stock Exchange. The occasion: the 2018 kickoff for the sun-drenched local franchise of the Sohn Investment Conference, a pediatric cancer charity. Other Sohn speakers that day included Jefferies global strategist David Zervos, Seth Fischer of Hong Kong hedge fund Oasis Management, and activist Bart Baum of Ionic Capital Management. They all crowded together in front of a wall of videos to press a blue switch to start the day’s trading. “The market is open,” a computer-like voice droned amid cheers and applau...
Provided by Dow Jones By Amrith Ramkumar Shares of technology firms and special-purpose acquisition companies surged on Tuesday, bouncing back after a weekslong streak of declines that pushed some popular SPACs down 20% or more in a month. The Nasdaq Composite surged 3.7% for its biggest advance since November, trimming a recent slide that just one day earlier had dragged it more than 10% below its February all-time high. Shares of electric-car company Tesla Inc. rebounded 20%, adding more than $100 billion to the company's market value, or roughly the equivalen...
Virtus Investment Partners Announces Agreement to Acquire Westchester Capital Management Posted on 02/02/2021 Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-boutique asset management business, announced it has entered into a definitive agreement to acquire Westchester Capital Management, a manager of global event-driven investment strategies with approximately US$ 4.3 billion of assets under management as of December 31, 2020, including US$ 3.6 billion in The Merger Fund, which was launched in 1989. The sales price was US$ 135 million. Under the agreement, Virtus woul...
Virtus expanding manager stable with Westchester acquisition Getty Images Virtus Investment Partners entered into an agreement to acquire global event-driven money manager Westchester Capital Management. The agreement calls for Virtus to acquire the firm for $135 million at closing, with a potential for future payments based on revenue and growth, said Virtus spokesman Joe Fazzino. Westchester Capital is currently owned by the principals of the firm, and Lincoln Peak Capital owns a minority stake in the firm as well, Mr. Fazzino said. The deal is expected to close in the second half of 2021, ...