Multi-manager shop Virtus Investment Partners has added Rampart Investment Management, which specializes in customized options strategies for institutional and high-net-worth clients, as a wholly owned affiliate of Virtus.
Financial terms of the agreement were not disclosed. Barrington Partners of Boston represented Rampart in the deal, which is expected to be completed in the fourth quarter.
Rampart, a Boston-based, employee-owned investment manager with $1.4 billion under management, will continue to be led by co-founders Ronald Egalka, president and chief investment officer, and David Fraley, executive vice president, director of client services. Rampart's entire team will remain with the firm upon completion of the transaction, and the firm's senior management team has entered into employment agreements with Virtus. The company will maintain its offices in Boston's Financial District.
As an affiliated partner of Virtus, Rampart will retain its brand, independent investment process, and its proprietary Rampart Options Management System platform while leveraging Virtus' shared retail distribution and business support services. In addition to focusing on expanding Rampart's current client base, Virtus expects to use Rampart's options overlay strategies within existing investment strategies and introduce it in new products.
"The opportunity to maintain our boutique culture, mathematically-driven investment processes and client service functions, combined with the benefits of Virtus' extensive distribution capabilities and business support model, were critical elements we considered when selecting the best long-term partner for Rampart," Egalka stated.