Hartford-based Virtus Investment Partners announced Monday that it had completed the acquisition of a Boston-based investment firm, AlphaSimplex.
AlphaSimplex, which specializes in alternative investment strategies, has $8.3 billion of assets under management. The transaction closed Saturday.
Virtus, a publicly traded company headquartered in the city’s iconic Gold Building, said the transaction “further diversifies (its) alternative investment offerings by adding AlphaSimplex’s systematic, quantitative investment solutions that are available to institutional and individual clients.”
According to the announcement, AlphaSimplex will maintain autonomy over its investment processes, brand and culture, which should ensure continuity for its clients, consultants and distribution partners.