Virtus Investment Partners (VRTS) Earnings Call Presentation

Firm Overview - Virtus Investment Partners has a market capitalization of $1.8 billion[10] - The firm manages $179.3 billion in assets under a multi-boutique structure[10] - Kayne Anderson Rudnick manages $65.3 billion, representing 36% of the total AUM[26] Growth and Acquisitions - In January 2022, Virtus acquired Stone Harbor Investment Partners, adding $14.7 billion AUM in emerging markets debt and multi-asset credit strategies[22] - In April 2023, the company acquired AlphaSimplex, adding $7.8 billion AUM in quantitative alternative strategies[22] Products and Performance - Equity assets account for $103.5 billion, or 58% of the total AUM[26] - Fixed Income assets total $37.0 billion, representing 21% of the AUM[26] - Multi-Asset and Alternatives comprise $38.8 billion, which is 21% of the AUM[26] - Open-End Funds account for $50.3 billion, or 28% of the total AUM[26] - Retail Separate Accounts manage $46.8 billion, representing 26% of the AUM[26] Financial Performance - The operating income, as adjusted for Q1 2024, was $56.4 million[55] - Net income attributable to Virtus Investment Partners, Inc, as adjusted for Q1 2024, was $39.4 million[55] - Cash tax savings are expected to average $14 million per year over the next 15 years (2024-2038)[60]