LOS ANGELES, Nov. 28, 2012 /PRNewswire/ -- Kayne Anderson Rudnick (KAR), a boutique investment adviser and affiliated manager of Virtus Investment Partners, Inc., has announced the appointment of Doug Foreman as co-chief investment officer, effective January 1, 2013. In his new role, Foreman will share responsibility for leadership of KAR's equity team and investment operations with Robert Schwarzkopf, chief investment officer since 2007.
Foreman was hired in July 2011 as director of equities, a role he will continue to hold, and he will continue to report to Schwarzkopf. Foreman will also become the fourth member of KAR's executive management committee, joining Schwarzkopf, Jeannine Vanian, chief operating officer, and Steve Rigali, executive vice president.
"Doug has more than 25 years of equity research, portfolio management, and leadership experience, including a decade as CIO of U.S. equities at Trust Company of the West," said Rigali. "He has done an exceptional job as director of equities, and we are pleased to recognize him with this expanded opportunity to co-lead the equity team and KAR's investment operations, including portfolio management and research."
Schwarzkopf said, "I welcome Doug's deeper involvement with day-to-day management of the equity team and investment group. In his first year, he has embraced KAR's investment philosophy and process, enhanced our research and portfolio management capabilities, and demonstrated his strong commitment to quality and performance on behalf of our clients."
KAR's equity portfolios utilize a high quality-oriented investment approach emphasizing proprietary fundamental research conducted by KAR's equity team to identify companies with proprietary businesses, low debt, rising free cash flow, and excellent management.
Before joining KAR, Foreman was director of equities at HighMark Capital Management for two years following ten years as group managing director and chief investment officer at Trust Company of the West (TCW). He began his investment career in 1986 at Putnam Investments where he was an equity research analyst for three years and a portfolio manager for five years.
Foreman has a B.S. in marine engineering from the U.S. Naval Academy and served in the United State Navy for five years. He earned an M.B.A. from Harvard University and has held the Certified Financial Analyst (CFA) designation since 1989.
About Kayne Anderson Rudnick
Kayne Anderson Rudnick Investment Management, a registered investment advisor based in Los Angeles, is one of the boutique investment managers that comprise Virtus Investment Partners, Inc. With more than 26 years of experience and over $6.7 billion in assets under management as of September 30, 2012. Kayne manages a range of portfolios having a common disciplined, high-quality investment philosophy. Visit www.kayne.com for more information. Virtus Investment Partners (NASDAQ: VRTS) provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process and individual brand. Additional information can be found at www.virtus.com.
SOURCE Virtus Investment Partners, Inc.