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Virtus Investment Partners Acquires 35% Stake in Crescent Cove Advisors, Terms Undisclosed; Expands Into Private Markets Lending

Benzinga · 2d ago

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Adds Differentiated Private Markets Capability focused on Direct Lending to High-Growth Technology Companies

Virtus Investment Partners, Inc. (NYSE:VRTS), which operates a multi-manager asset management business, today announced it has completed the acquisition of a 35% minority interest in Crescent Cove Advisors, LP ("Crescent Cove"), a San Francisco-based firm providing private capital solutions to middle market technology companies. The transaction broadens Virtus' offerings by adding a differentiated private markets capability focused on lending to high-growth technology companies.

This transaction was funded through existing financial resources, the terms of which were not disclosed. Goodwin Procter LLP was legal advisor to Virtus on the transaction. Oppenheimer & Co. Inc. acted as financial advisor and Morgan, Lewis & Bockius LLP was legal advisor to Crescent Cove.

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