---
schema_version: "secwatch.filing_event.v1"
accession: "0000883237-26-000032"
form_type: "8-K/A"
ticker: "VRTS"
cik: "0000883237"
company_name: "VIRTUS INVESTMENT PARTNERS, INC."
filed_at: "2026-05-14T20:43:06+00:00"
generated_at: "2026-05-14T20:44:08.766300+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Virtus acquires 56% of Keystone for $308.2M; expands into private credit

## Summary
- Total purchase price $308.2M: $198.8M cash at close, $109.4M contingent consideration (deferred cash $88.1M, earn-out $21.3M).
- Keystone generated $60.9M in management fee revenue and $40.9M net income for FY2025.
- Pro forma balance sheet adds $307M intangible assets and $246M goodwill; Virtus incurs $50M additional debt.
- Acquisition closed March 1, 2026; Keystone specializes in asset-centric private credit.

## SEC filing metadata
- accession: 0000883237-26-000032
- form_type: 8-K/A
- ticker: VRTS
- cik: 0000883237
- company_name: VIRTUS INVESTMENT PARTNERS, INC.
- filed_at: 2026-05-14T20:43:06+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/883237/000088323726000032/0000883237-26-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/883237/000088323726000032/vrts-20260301.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000883237-26-000032
- JSON: https://secwatch.observer/filing/0000883237-26-000032.json
- Plain text: https://secwatch.observer/filing/0000883237-26-000032.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.