Virtus Partners, LLC (“Virtus”), a market leader in technology-enabled, alternative asset collateral administrative services and Trade Settlement, Inc. (“TSI”), a New York-based primary and secondary loan trading settlement and documentation service provider and the industry leader in automated loan closings, announced today the completed strategic acquisition of TSI’s business and assets by Virtus.
“We are excited about the opportunities this acquisition provides to our clients and the ever-evolving loan market,” stated Kelly Faykus, Co-Founder and Managing Partner of Virtus. “The combination of Virtus’ expansive database of loan market information and TSI’s strong settlement capabilities will create substantial opportunities to reduce trade settlement times while providing more robust management reporting and a framework to enhance market liquidity.”
Virtus provides a comprehensive, integrated suite of front, middle, and back office alternative asset administrative and analytical services. Its global offering extends across collateral administration services for structured transactions, middle office outsourcing, global loan data, loan agency, accounting and analytics. Today, the company administers over $180 billion in assets across its platform.
“Virtus Partners is an ideal fit for our company in terms of client services, global relationships, and a culture of growth with the ability to meet the execution and processing needs of our clients in the syndicated loan space,” said Pat Loret de Mola, TSI’s Founder and CEO. “Our companies have a similar history in supporting loan investors, traders and agent banks by providing key infrastructure and services required to grow their businesses.” Ms. Loret de Mola will continue as President of TSI.
Mr. Faykus added, “By expanding Virtus’ product offering to include TSI’s electronic settlement platform we can provide our clients and the marketplace with a complete suite of solutions for their middle and back office administrative needs while continuing to focus on greater liquidity, transparency and control within the loan asset class.”
About Trade Settlement, Inc. (TSI)
Established in June 2000, Trade Settlement, Inc.® is the premier industry leader in automated loan closings. TSI introduced the first integrated, post-trade loan settlement platform serving the $3.0 trillion Primary and Secondary syndicated loan markets. The Company supports all of the major Agent banks and well over 600 buy-side firms. TSI's cloud-based platform brings efficiency, speed, seamless data integration, and high-speed connectivity to the loan closing process. For more information please visit: www.trade-settlement.com
About Virtus Partners Holdings, LLC
Virtus provides alternative asset administrative and middle office services and data to funds and various investment vehicles, including hedge and private equity funds, separate accounts, total return swaps and collateralized loan obligations (CLOs). With offices in Houston, Austin, New York, Shanghai and London, Virtus specializes in tailored middle office solutions for managers looking to outsource their fixed-income requirements. For more information please visit: www.virtusllc.com.
