Virtus Investment Partners acquired Sustainable Growth Advisers (SGA) for $129.5 million base purchase price (cash, subject to adjustment) for 70% of SGA plus 100% of its general partner, a transaction completed in July 2018, structured as cash.
Sustainable Growth Advisers (SGA) operates in Global growth equity, is based in Stamford, CT. Through subsidiary Virtus Partners, Virtus agreed to acquire 70% of the limited partnership interests of Sustainable Growth Advisers plus 100% of the interests of its general partner, with SGA's management partners retaining the remaining 30%. SGA is a global large-cap growth equity manager; at close it managed about $11.3 billion. Outside minority owner Estancia Capital Partners sold its full stake to Virtus. The base purchase price was $129.5 million in cash, subject to client-consent and working-capital adjustments.
Added a high-conviction global growth-equity boutique that broadened Virtus's equity styles and its institutional and high-net-worth reach.
Distinctive global growth-equity franchise with founder alignment via retained equity. Expanded equity capabilities and distribution to institutional and intermediary channels. Operated as affiliated manager Sustainable Growth Advisers
Advisory firms were not disclosed for this transaction.