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Duff & Phelps Investment Management raises $735 million for new DPG closed-end fund

Virtus announced that its affiliated manager, Duff & Phelps Investment Management Co., has raised $735 million in a common stock offering for Duff & Phelps Global Utility Income Fund Inc. (NYSE: DPG), a new closed-end fund that invests in domestic and foreign utility companies in the electric, gas, water, telecommunications, and midstream energy sectors.