Virtus Investment Partners, Inc. (NYSE: VRTS), which operates a multi-manager asset management business, announced it has entered into a definitive agreement to acquire a majority interest in Keystone National Group, an investment manager specializing in asset-centric private credit and a pioneer in providing such strategies to the wealth channel. The transaction expands Virtus’ offerings into private markets with the “addition of a differentiated asset-backed lending capability.”Established back in 2006, K ...

Key TakeawaysAir Canada (AC.TO) announced the reduction of approximately 400 management positions, or 1% of its workforce, following an extensive review and a period of financial impact from a recent strike.Fitch Ratings highlighted that life insurers tied to alternative investment managers (Alt IMs) are experiencing higher private credit exposure and associated risks, though widespread rating pressures are not anticipated due to diversified portfolios.NATO Secretary General Mark Rutte confirmed that the is ...