Virtus Investment Partners Acquires 35% Stake in Crescent Cove Advisors in Strategic Investment

Virtus Investment Partners, Inc. has acquired a 35% minority interest in Crescent Cove Advisors, LP, a San Francisco-based firm that provides private capital solutions to middle market technology companies. This acquisition enhances Virtus' private markets capabilities, focusing on lending to high-growth technology firms.

Crescent Cove, founded in 2016, manages approximately $1 billion in assets across various private funds, and specializes in sectors including defense tech, autonomous driving, artificial intelligence, and fintech. The transaction was funded through existing financial resources, with terms undisclosed. Goodwin Procter LLP and Morgan, Lewis & Bockius LLP served as legal advisors for Virtus and Crescent Cove, respectively.