Virtus Investment Partners is set to acquire a majority interest in Keystone National Group, an investment manager specializing in asset-centric private credit and asset-backed lending. The deal, valued at $200 million at closing with up to an additional $170 million in potential deferred payments, will expand Virtus' capabilities into private markets. The transaction is expected to close in the first quarter of 2026, pending customary conditions. Keystone's leadership, including co-founders John Earl and Brandon Nielson, will join Virtus, further enhancing the firm's offerings in differentiated asset-backed credit strategies.