Virtus Global Multi-Sector Income Fund IPO Raises $215M

Virtus Investment Partners

today announced that it has raised $215 million in a common stock offering for its newest closed-end fund, Virtus Global Multi-Sector Income Fund

, which began trading February 24 on the New York Stock Exchange. Assuming full exercise of the underwriters' overallotment option, which may or may not occur, the fund will have raised approximately $247 million. The offering was led by Morgan Stanley, Citigroup, and UBS Investment Bank.