Duff & Phelps Investment Management, an affiliated manager of Virtus Investment Partners, has appointed David Grumhaus, Jr. as its president and CIO.

Earlier, Grumhaus jointly served as the firm’s CIO along with Nathan Partain, who retired on 31 December 2020.

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Partain, who has been at the firm for 31 years, will now be a consultant at the firm on a transitionary basis.

Commenting on Partain, Grumhaus stated: “Duff & Phelps has been very fortunate to have Nathan’s steady leadership for the past 15 years, and his contributions during his 31 years with the company have helped to define our organisationp.”

Grumhaus has been working at Duff & Phelps since 2014 and last February was appointed as the firm’s co-CIO. He also led its Infrastructure and Utilities Group.

Currently, he will remain head of the firm’s MLP and Energy Infrastructure Strategy and manage its midstream and MLP strategies.

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Grumhaus’ investment career started in 1989. He previously was a portfolio manager and director of research at Copia Capital.

At the same time, he worked as an investment banker at Goldman Sachs and William Blair & Company.

Partain noted: “David has done an outstanding job leading our investment strategies and working with our team to maintain Duff & Phelps legacy as a premier manager of energy, infrastructure and real estate investment strategies.”

Duff & Phelps was set up in 1932 as a fundamental research firm and has been overseeing assets since 1979.  Its investment strategies cover global listed infrastructure, US and global real estate, as well as MLPs and energy.