US-listed multi-boutique asset manager Virtus Investment Partners has completed the previously announced acquisition of Stone Harbor Investment Partners an emerging markets debt specialist with $14.5 billion of assets under management.

The addition of Stone Harbor as an affiliated manager is intended to diversify the investment capabilities available through Virtus' multi-boutique model according to the firm.

Stone Harbor also increases the company's non-U.S. institutional client base, expands global distribution resources, and adds a proprietary operating and analytical platform that can be leveraged by other affiliates.

"Stone Harbor offers clients a highly regarded emerging markets debt strategy that has a 30-year track record," said George R. Aylward, president and chief executive officer of Virtus. "Their institutional-quality emerging markets debt capabilities, under the leadership of Peter Wilby, managing partner and co-chief investment officer and Jim Craige, co-CIO and head of emerging markets, are well-respected among clients and consultants and highly complementary to our other fixed-income capabilities. We are pleased that Stone Harbor has joined as one of our distinctive investment managers."

As a boutique affiliate, Stone Harbor will maintain autonomy over its investment processes, brand and culture, ensuring continuity for its clients, consultants, and distribution partners.