Munder Managers and Partners Buy Firm

Munder Capital will keep its actively managed assets and spin off its passively managed assets to Comerica as part of the transaction: Munder Capital will retain its $25.1 billion (as of June 30), actively managed fixed-income and equity assets. World Asset Management, Munder’s index-oriented and quantitative arm, with about $15.9 billion in assets (as of June 30), will be acquired by Comerica in full as part of the deal. New York-based Crestar Partners will own a majority interest in Munder Capital; merchant bank Grail Partners, based in Boston, New York, San Francisco, and London, is also to be an investor, while senior management and portfolio managers at Munder will own “a significant minority interest,” according to the Munder announcement. “Munder Capital will continue to offer its investment management services to the clients and distribution channels of Comerica. Comerica will be our largest client,” says Munder Capital’s President John S. Adams, in the release. He will become Munder Capital’s CEO when the deal closes.