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VIRTUS INVESTMENT PARTNERS, INC. executive vice president and chief legal officer Andra C. Purkalitis reported routine equity compensation activity. She received an award of 2,578 shares of common stock as restricted stock units at $126.11 per share under the 2026 Long Term Incentive Plan. A separate disposition of 390 shares at the same price was made back to the company to satisfy tax withholding obligations from earlier RSU vesting, rather than an open‑market sale. Following these transactions, she directly holds 5,430.406 shares, including ESPP shares and RSUs scheduled to vest on March 15, 2027, March 15, 2028, and March 15, 2029.
Virtus Investment Partners EVP & COO Richard W. Smirl reported routine equity compensation activity. He had 1,121 shares of common stock disposed back to the company at $126.11 per share to cover tax withholding tied to previously granted restricted stock units under prior long-term incentive plans.
On the same date, he received a grant of 5,155 restricted stock units under the company’s 2026 Long Term Incentive Plan, valued at $126.11 per share. These RSUs are scheduled to vest ratably over the next three years and will be settled one-for-one in common shares upon vesting.
Following these transactions, Smirl directly holds 17,297.781 shares in total. This total includes 560.7856 shares acquired through the Employee Stock Purchase Plan and RSUs scheduled to vest on March 15, 2027, March 15, 2028, and March 15, 2029.
Virtus Investment Partners director Morris W. Howard reported open-market purchases of 4,050 shares of Common Stock. On March 12, 2026, he bought 1,900 shares directly at about $129.62 per share, increasing his direct holdings to 4,307 shares.
Additional purchases included 150 shares held indirectly by his spouse at about $129.23 per share and 2,000 shares held indirectly by The Prairie and Tireman Group Pension Plan at about $129.35 per share. Some trades were executed in multiple transactions within price ranges disclosed in the footnotes, and Howard disclaims beneficial ownership of certain indirect holdings except to the extent of his pecuniary interest. A separate indirect holding of 435 shares is reported for The Prairie and Tireman Group, LLC.
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 lower 2025 revenue but higher earnings and continued strategic expansion. Total revenues fell 6.0% to $852.9 million, while operating income declined 7.6% to $168.7 million. Diluted EPS rose to $19.97, up 18.2%.
Assets under management decreased 8.9% to $159.5 billion, driven by net outflows of $18.9 billion partly offset by $5.9 billion of positive market performance. Average fee rates edged down as assets shifted toward lower-fee strategies.
The company completed a 35% minority investment in Crescent Cove Advisors for $41.1 million and agreed to acquire a majority interest in Keystone National Group for $200.0 million plus up to $170.0 million of contingent consideration. Virtus ended 2025 with $399.0 million of debt, unused revolver capacity of $250.0 million, and 801 employees, and declared a quarterly dividend of $2.40 per share while repurchasing 347,364 shares for $60.0 million.
Virtus Investment Partners director Susan S. Fleming reported selling a total of 3,322 shares of common stock in open-market transactions on February 11, 2026. The sales occurred at weighted average prices of $142.22, $142.75, and $142.32 per share, within a range from $141.92 to $142.49. Following these transactions, she directly beneficially owns 10,355 shares of Virtus common stock.
A holder of Virtus common stock filed a notice of proposed sale under Rule 144. The filer plans to sell 3,322 common shares through Merrill Lynch, with an aggregate market value of $471,092.82, on or about 02/11/2026 on the NYSE. Virtus had 6,754,405 common shares outstanding at the time referenced. The securities to be sold were acquired between 2010 and 2019 via open‑market purchases and restricted stock granted in lieu of services. Over the prior three months, Susan S. Fleming sold additional Virtus shares totaling 2,959 shares for combined gross proceeds of $495,798.
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. director reported open-market sales of company stock. On 12/11/2025, the reporting person sold 1,819 shares of common stock at a weighted average price of $168.49 per share and 1,140 shares at $167.98 per share, both coded as sales. After these transactions, the reporting person beneficially owned 13,677 shares of Virtus common stock in direct ownership.
The filing notes that the first sale price is a weighted average reflecting multiple trades between $168.38 and $169.03, and the reporting person undertakes to provide full trade-by-trade details upon request. The form is filed by a single reporting person in their capacity as a director of Virtus Investment Partners.