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News Breaks | | | | January 10, 2013 | | 13:19 EDT |  | VRTS | Virtus Investment Partners and Kleinwort Benson Investors announce partnership
Kleinwort Benson Investors, which provides specialized equity strategies primarily to institutional investors, and Virtus Investment Partners (VRTS), which operates a U.S.-based multi-manager asset management business, announced an agreement to enter into a partnership to develop business interests in the U.S. retail marketplace. The strong commitment of both parties to this agreement is demonstrated by Virtus acquiring a 24% interest in Kleinwort Benson Investors International, Ltd., a 100%-owned subsidiary of KBID. KBII is a U.S. registered investment adviser that subadvises the Virtus Emerging Markets Equity Income Fund, an open-end mutual fund that Virtus launched in September. Sean Hawkshaw, CEO of Kleinwort Benson Investors, said that Virtus' multi-boutique model and its powerful distribution position in the U.S. retail market were important considerations in establishing the alliance. | |
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