Schulte advised Sustainable Growth Advisers (SGA), an employee-owned investment manager, in its sale of a majority stake to Virtus Investment Partners Inc., which operates as a multi-manager asset management business. SGA has $11.6 billion in assets under management in U.S. and international growth equity strategies. The transaction, in which Virtus purchased interest held by private equity firm Estancia Capital Management and by SGA's partners, will expand Virtus' investment offerings and diversify and expand its clients base. This transaction was announced in February 2018 and closed in July 2018.
The Schulte team that advised Sustainable Growth Advisers was led by M&A and securities partner Richard Presutti and associate Lawrence Natke. The team also included associate Matthew Savoff, employment & employee benefits partner Ronald Richman, tax partner Philippe Benedict and tax special counsel Christine Harlow.