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Thursday, October 18, 2012

The Virtus-Rampart Deal is Done

Reported by Chris Cumming

The latest Virtus Investment Partners deal is completed. The Hartford, Connecticut-based multi-manager shop has completed its acquisition of Rampart Investment Management, according to a press release.

The deal was announced last month. Rampart is a Boston-based shop that specializes in custom option strategies, with $1.4 billion in AUM. Its acquisition brings Virtus' AUM up around $24 billion.

The press release is below.
Virtus Investment Partners Completes Acquisition Of Rampart Investment Management
New affiliated manager offers customized option strategies

Hartford, CT and Boston, MA October 18, 2012 – Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-manager asset management business, has completed its previously announced acquisition of Rampart Investment Management, adding customized options strategies to its investment capabilities for institutional and high-net-worth clients.

Rampart, a Boston-based registered investment advisor that is led by co-founders Ronald M. Egalka, president and chief investment officer, and David R. Fraley, executive managing director, client services, is now one of Virtus’ boutique asset managers. The acquisition adds approximately $1.4 billion to Virtus’ long-term assets under management.

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.

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. 

George R. Aylward, Virtus’ president and chief executive officer, said that Rampart’s distinctive alpha-generating capabilities complement the investment strategies that Virtus offers through its other affiliated managers and select subadvisers. Rampart’s investment strategies will be made available through Virtus’ retail and institutional distribution platforms. 

“Ron, Dave and the Rampart team are well known for working closely with financial advisors and consultants to develop highly customized solutions for their clients, and we look forward to integrating Rampart’s options overlay capabilities within existing investment strategies as well as introducing them in new products,” Aylward said.

Egalka noted that Rampart recently 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.

“For more than 28 years, we have provided a broad range of individual and institutional clients with best-in-class investment solutions and superior customer service, and we look forward to continuing to serve their investment needs,” Egalka added. “Every member of the Rampart team is excited to join Virtus, and we look forward to the growth opportunities this partnership can generate.”

About Rampart Investment Management Founded in 1983, Rampart Investment Management is a Boston-based registered investment advisor and a leading asset manager specializing exclusively in option strategies. Rampart manages client assets with expertise in domestic and international, listed and over-the-counter, index and equity options. The firm’s investment solutions can add value to a broad spectrum of high-net-worth and tax-exempt institutional clients, mutual funds, domestic and international financial service companies, foundations and endowments. The company’s team of investment professionals uses an array of analytical tools, including the proprietary technology platform, the Rampart Options Management System (ROMS®), to help investors meet their goals, ranging from cash yield enhancement to risk mitigation. For more information, please visit www.rimco.com.

About Virtus Investment Partners Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Its affiliated managers include Duff & Phelps Investment Management Co., Euclid Advisors LLC, Kayne Anderson Rudnick Investment Management, LLC, Newfleet Asset Management, LLC, Newfound Investments, LLC, Rampart Investment Management Co., LLC, and Zweig Advisers LLC. Additional information can be found atwww.virtus.com.

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