Aquiline Capital Partners, a US-based private equity firm investing in financial services, has acquired a minority stake in Virtus Partners, a provider of technology-enabled, fixed-income collateral administrative services.
As part of the acquisition, investment staff at Aquiline Vincenzo La Ruffa and Geoff Kalish and Anthony Abenante, executive advisor to Aquiline and former CEO will join Virtus board of managers.
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Financial terms of the transaction were not disclosed.
Virtus co-founder and managing partner Kelly Faykus said: "Partnering with Aquiline will help us execute on our long-term initiatives, including growth of our client base, new product development, and expansion of our platform through strategic acquisitions."
Aquiline CEO Jeff Greenberg said: "The company serves a growing asset class in collateralized loan obligations and has a reputation for cutting-edge technology and superior customer service. We also see opportunities to leverage Virtus’ expertise for expansion within the fixed income market."
Managing over $180bn in fixed-income assets across its platform, Virtus provides technology enabled comprehensive, integrated suite of front, middle, and back office fixed-income services. It also offers services such as structured transactions, middle office outsourcing, global loan data, accounting and analytics.
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