UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  SCHEDULE 13G

                               (Amendment No. 1)

                   Under the Securities Exchange Act of 1934*


                        Virtus Investment Partners, Inc.
                        --------------------------------
                                (Name of Issuer)

                     Common Stock, par value $0.01 per share
                     ---------------------------------------
                         (Title of Class of Securities)

                                    92828Q109
                                    ---------
                                 (CUSIP Number)

                                  March 6, 2009
                                  -------------
             (Date of Event Which Requires Filing of this Statement)

           Check the appropriate box to designate the rule pursuant to
                         which this Schedule is filed:

                                [ ] Rule 13d-1(b)
                                [X] Rule 13d-1(c)
                                [ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).





-------------------                                            -----------------
CUSIP No. 92828Q109                    13G                     Page 2 of 7 Pages
-------------------                                            -----------------

---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON

           Third Point LLC
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY

---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             0
     OWNED BY        ------ ----------------------------------------------------
       EACH          7      SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH          ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            0
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           0
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           0%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON

           OO
---------- ---------------------------------------------------------------------





-------------------                                            -----------------
CUSIP No. 92828Q109                    13G                     Page 3 of 7 Pages
-------------------                                            -----------------

---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON

           Daniel S. Loeb
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY

---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             0
     OWNED BY        ------ ----------------------------------------------------
       EACH          7      SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH          ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            0
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           0
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           0%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON

           IN
---------- ---------------------------------------------------------------------





-------------------                                            -----------------
CUSIP No. 92828Q109                    13G                     Page 4 of 7 Pages
-------------------                                            -----------------

---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON

           Third Point Offshore Master Fund, L.P.
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY

---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           Cayman Islands
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             0
     OWNED BY        ------ ----------------------------------------------------
       EACH          7      SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH          ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            0
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           0
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           0%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON

           PN
---------- ---------------------------------------------------------------------





-------------------                                            -----------------
CUSIP No. 92828Q109                    13G                     Page 5 of 7 Pages
-------------------                                            -----------------

---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON

           Third Point Advisors II L.L.C.
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY

---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             0
     OWNED BY        ------ ----------------------------------------------------
       EACH          7      SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH          ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            0
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           0
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           0%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON

           OO
---------- ---------------------------------------------------------------------





     This Amendment No. 1 to Schedule 13G (this "Amendment No. 1") is being
filed with respect to the common stock, par value $0.01 per share (the "Common
Stock") of Virtus Investment Partners, Inc., a corporation formed under the laws
of the State of Delaware (the "Company"), to amend the Schedule 13G filed on
January 12, 2009 (the "Schedule 13G"). This Amendment No. 1 is being filed to
disclose that the Reporting Persons no longer beneficially own any shares of
Common Stock. Capitalized terms used herein and not otherwise defined have the
meanings ascribed thereto in the Schedule 13G.


Item 4:        Ownership:
------         ---------

Item 4 of the Schedule 13G is hereby amended and restated as follows:

The beneficial ownership of Common Stock by the Reporting Persons, as of the
date of this Amendment No. 1, is as follows:

     A.        Third Point LLC
               ---------------
     (a) Amount beneficially owned: 0
     (b) Percent of class: 0%
     (c) Number of shares as to which such person has:
          (i)    Sole power to vote or direct the vote: 0
          (ii)   Shared power to vote or direct the vote: 0
          (iii)  Sole power to dispose or direct the disposition: 0
          (iv)   Shared power to dispose or direct the disposition: 0

     B.   Daniel S. Loeb
          --------------
     (a) Amount beneficially owned: 0
     (b) Percent of class: 0%
     (c) Number of shares as to which such person has:
          (i)    Sole power to vote or direct the vote: 0
          (ii)   Shared power to vote or direct the vote: 0
          (iii)  Sole power to dispose or direct the disposition: 0
          (iv)   Shared power to dispose or direct the disposition: 0

     C.   Third Point Offshore Master Fund, L.P.
          --------------------------------------
     (a) Amount beneficially owned: 0
     (b) Percent of class: 0%
     (c) Number of shares as to which such person has:
          (i)    Sole power to vote or direct the vote: 0
          (ii)   Shared power to vote or direct the vote: 0
          (iii)  Sole power to dispose or direct the disposition: 0
          (iv)   Shared power to dispose or direct the disposition: 297,305

     D.   Third Point Advisors II L.L.C.
          ------------------------------
     (a) Amount beneficially owned: 0
     (b) Percent of class: 0%
     (c) Number of shares as to which such person has:
          (i)    Sole power to vote or direct the vote: 0
          (ii)   Shared power to vote or direct the vote: 0
          (iii)  Sole power to dispose or direct the disposition: 0
          (iv)   Shared power to dispose or direct the disposition: 0


                                      -6-





Item 5:        Ownership of Five Percent or Less of a Class:
               --------------------------------------------

If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following: [X]

Item 10:       Certification:
               -------------

Each of the Reporting Persons hereby makes the following certification:

By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.


                                      -7-





                                    SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


Dated:  March 23, 2009



                         THIRD POINT LLC

                         By: Daniel S. Loeb, Chief Executive Officer


                         By: /s/ William Song
                             ---------------------------------------------------
                             Name:   William Song
                             Title:  Attorney-in-Fact


                         THIRD POINT OFFSHORE MASTER FUND, L.P.

                         By: Third Point Advisors II L.L.C., its general partner
                         By: Daniel S. Loeb, Managing Director


                         By: /s/ William Song
                             ---------------------------------------------------
                             Name:   William Song
                             Title:  Attorney-in-Fact


                         THIRD POINT ADVISORS II L.L.C.
                         By: Daniel S. Loeb, Managing Director


                         By: /s/ William Song
                             ---------------------------------------------------
                             Name:   William Song
                             Title:  Attorney-in-Fact


                         DANIEL S. LOEB


                         By: /s/ William Song
                             ---------------------------------------------------
                             Name:   William Song
                             Title:  Attorney-in-Fact





                                  EXHIBIT INDEX
                                  -------------


Exhibit 99.2:  Power of Attorney granted by Daniel S. Loeb in favor of James P.
               Gallagher, William Song, Joshua L. Targoff and Bruce Wilson,
               dated January 5, 2009, was previously filed with the SEC on
               January 5, 2009 as an exhibit to Amendment No. 3 to Schedule 13G
               filed by Third Point LLC, Daniel S. Loeb, Third Point Offshore
               Fund, Ltd., Third Point Offshore Master Fund, L.P., and Third
               Point Advisors II L.L.C. with respect to Energy XXI (Bermuda)
               Limited and is incorporated herein by reference.