Virtus Investment Partners, Inc. (NASDAQ:VRTS) Q2 2023 Earnings Call Transcript

Michael Angerthal : Yes. And we have the contingent consideration that we look at each quarter on the balance sheet and you may recall that each first quarter, we have a payment of the revenue participation payments that have been in the $25 million range over the first two periods. This would be the third period coming up. And we had talked about the bulk of that being over a five-year period and there’s also some longer tailed contingent consideration related to Westchester Capital, which would be out years four and five post that transaction, which closed in 2021. So that’s two to three years from now, so more imminent over the next 2 years or the first quarter of each year related to the revenue participation payments.

Michael Cyprys: Great. Thank you.

Operator: Thank you. Ladies and gentlemen, this concludes our question-and-answer session. I would now like to turn the conference back over to Mr. Aylward.

George Aylward : Great. Thank you so much. And I want to thank everyone today for joining us. And as always, if there’s any additional questions, please feel free to reach out with further questions. Thank you very much.

Operator: Ladies and gentlemen, that concludes today’s call. Thank you for your participating and you may now disconnect.