Every 8-K that Virtus Investment Partners, Inc. (VRTS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow VRTS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VRTS filings page.
Virtus Investment Partners, Inc. (VRTS) reported that its Board of Directors appointed John T. “Jack” Boyce as a director and member of the Audit Committee, effective August 19, 2026. Boyce, age 66, has more than 25 years of senior financial leadership experience, including leading North America distribution at Insight Investment and earlier roles at Standard Life Investments and other asset managers. He will receive cash and equity compensation in line with Virtus’ standard program for non-employee directors, pro rated for the remainder of the 2026 Board year, and will enter into the company’s standard indemnity agreement for directors.
Virtus Investment Partners, Inc. reported results for the quarter ended June 30, 2026. U.S. GAAP revenues were $201.4 million, down 4% from a year earlier. Operating income was $27.3 million (operating margin 13.6%), versus $45.2 million a year ago but up from $15.4 million in the prior quarter. Net income attributable to Virtus was $45.3 million, or $6.68 diluted EPS, up 9% year over year, supported by $2.65 per share of realized and unrealized investment gains and other fair value adjustments.
On a non-GAAP basis, revenues, as adjusted, were $183.6 million (down 4% year over year). Operating income, as adjusted, was $47.9 million with a 26.1% operating margin, versus $59.8 million and 31.3% a year ago. Diluted EPS, as adjusted, was $5.54, down from $6.91. Ending assets under management were $152.2 billion, down 11% from a year earlier but up 2% sequentially. Total sales were $6.1 billion and net flows were ($5.6) billion, improved from ($8.4) billion in the prior quarter, with positive ETF and wealth management flows partially offset by net outflows in quality-oriented equity strategies. Cash was $176.2 million and net debt $250.8 million (0.9x EBITDA); the company repurchased 70,097 shares for $10.0 million and paid a quarterly dividend of $2.40 per share (total $16.3 million).
Virtus Investment Partners, Inc. reported results of its annual shareholder meeting held on May 20, 2026. Shareholders elected all seven director nominees to serve until the 2027 annual meeting or until successors are chosen. Each nominee received over 4.7 million votes in favor.
Shareholders also ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 5,803,726 votes for and limited opposition. In addition, shareholders approved, on an advisory basis, the compensation of the company’s named executive officers.
Virtus Investment Partners, Inc. filed an amended report to add full-year 2025 audited financials for Keystone National Group and detailed pro forma results for their recently completed acquisition of 56% of Keystone.
Keystone generated $60.9 million of management fee revenue and $40.9 million of net income in 2025, highlighting a high-margin advisory business. Virtus reports total purchase consideration of $308.2 million, including $198.8 million of cash at closing and $109.4 million of contingent consideration tied to deferred payments and earn-outs. The preliminary purchase price allocation records $307.0 million of identifiable intangibles and $246.0 million of goodwill and assumes an additional $50.0 million draw on Virtus’ credit facility. Pro forma, Keystone’s results are combined with Virtus for 2025 and the first quarter of 2026, illustrating how the private credit manager would have affected Virtus’ revenues, expenses, earnings and noncontrolling interests if owned for the full periods.
Virtus Investment Partners reported weaker first-quarter 2026 results, with U.S. GAAP diluted EPS dropping to $1.05 from $4.05 a year earlier and adjusted diluted EPS at $5.38 versus $6.38. Revenue was $199.5 million, down 8% year over year and 4% sequentially, as average assets under management declined.
Ending assets under management were $149.0 billion at March 31, 2026, down from $159.5 billion in the prior quarter, reflecting market performance and broad net outflows, partly offset by positive ETF and global fund flows and assets added from Keystone National Group. Net flows were ($8.4) billion, slightly worse than ($8.1) billion in the prior quarter.
Virtus completed a majority investment in Keystone for $200 million, contributing to a decline in cash and equivalents to $136.6 million from $386.5 million. Gross debt rose to $448.0 million and net debt to $311.4 million, or 1.1x EBITDA. The company repurchased 73,463 shares for $10.0 million and paid dividends totaling $17.9 million, or $2.40 per share.
Virtus Investment Partners, Inc. is changing how it calculates several non-GAAP metrics starting with its first-quarter 2026 results by including tax benefits realized on amortization of goodwill and intangible assets. Previously, these tax benefits were excluded from non-GAAP measures.
The revision affects non-GAAP effective tax rate, earnings per share – diluted, as adjusted, tax expense, as adjusted, and net income attributable to common stockholders, as adjusted. For example, the non-GAAP effective tax rate for fiscal 2024 is 19.7% under the revised definition versus 26.4% historically, and earnings per share – diluted, as adjusted, for 2025 are $27.79 under the revised method versus $25.15 historically.
The company provided detailed reconciliations for quarters from the first quarter of 2024 through the fourth quarter of 2025 and for full years 2024 and 2025. It states these changes do not restate or amend previously reported GAAP results and are intended to better reflect underlying performance driven by acquisition-created intangible tax assets.
Virtus Investment Partners, Inc. completed its previously announced acquisition of 56% of Keystone National Group, an investment manager focused on asset-centric private credit, effective March 1, 2026. The purchase price includes $200 million in cash at closing, $65 million on the first anniversary, $30 million on the second anniversary, and up to an additional $75 million of contingent cash consideration over two to three years if Keystone meets specified revenue targets.
Virtus may acquire up to an additional 19% of Keystone’s equity through put/call options under the transaction documents and financed the deal using existing balance sheet resources. Keystone managed $2.5 billion in assets as of December 31, 2025 and has invested over $6.0 billion across more than 750 private credit transactions, expanding Virtus’ capabilities into asset‑backed lending strategies such as equipment finance, real estate finance, financial assets, and asset‑backed corporate loans.
Virtus Investment Partners reported weaker fourth-quarter 2025 revenue but higher GAAP earnings per share. Revenue was $208.0 million, down 11% from a year earlier and 4% from the prior quarter, as average assets under management declined.
Diluted EPS rose to $5.17 from $4.66 a year ago, while diluted EPS, as adjusted, fell to $6.50 from $7.50. Assets under management were $159.5 billion at December 31, 2025, down from $169.3 billion in the prior quarter, with net outflows of $8.1 billion driven mainly by equity strategies. The company ended the quarter with $386.5 million of cash, repurchased 60,292 shares for $10.0 million, and reported net debt of $12.5 million, or 0.0x EBITDA.
Virtus Investment Partners, Inc. reported that on December 16, 2025 it, through its wholly owned subsidiary Virtus Private Markets Holdings, LLC, acquired 35% of the equity of Crescent Cove Advisors, LP and Crescent Cove Opportunity GP, LP, collectively referred to as Crescent Cove.
Virtus Investment Partners and Crescent Cove jointly issued a press release dated December 16, 2025 announcing this acquisition, which is included as an exhibit to this report.
Virtus Investment Partners, Inc. agreed to acquire a controlling interest in Keystone National Group, a private markets investment firm. Through a subsidiary, Virtus will buy 56% of Keystone at closing and may acquire up to an additional 19% over time via put and call options.
The consideration for the initial stake totals $295 million in fixed cash payments: $200 million at closing, $65 million on the first anniversary, and $30 million on the second anniversary. Virtus may also pay up to an additional $75 million in contingent cash over two to three years if Keystone meets specified revenue targets.
The transaction is subject to customary conditions, including client consents for the deemed assignment of Keystone’s advisory contracts and regulatory clearance under the Hart-Scott-Rodino Act. There is no assurance the deal will close or that it will close on the contemplated terms.
Virtus Investment Partners, Inc. furnished an 8-K announcing it issued a press release reporting results for the quarter ended September 30, 2025. The press release is provided as Exhibit 99.1 and is incorporated by reference in this report.
The company states the information is being furnished, not filed, and will not be incorporated by reference into other SEC filings unless specifically stated.
Virtus Investment Partners, Inc. replaced its prior credit arrangements by entering a new credit agreement that establishes a $400.0 million term loan with a seven-year maturity and a $250.0 million revolving credit facility with a five-year maturity. The company may request additional revolving commitments or additional term loans under customary conditions. Proceeds of the term loan were used to refinance the outstanding prior term loan, for general corporate purposes, and to pay related fees and expenses.
Amounts outstanding under the new agreement bear interest at the company’s option either at Term SOFR for 1-, 3- or 6-month interest periods plus a margin of 2.25%, or at an alternate base rate plus a margin of 1.25%. The master guarantee and collateral agreements under the prior facility were terminated and replaced by new agreements.