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Munder Capital Management receives bids form private equity firms

24 Sep 2013

dollar3_170sqPrivate equity-backed Munder Capital Management has reportedly attracted bids from buyout firms that could value it at as much as $400m.

Buyout firms Thoma Bravo, Blackstone in partnership with Advent and Corsair in partnership with Flexpoint Ford have submitted offers for the Birmingham, Michigan-based fund manager, said Reuters, citing a number of sources.

The report said that it could not be determined whether the business had attracted bids from other suitors.

Munder’s private equity owner Crestview Partners has hired Goldman Sachs to help sell the business after a seven year holding period.

Crestview acquired Munder in 2006, well after the firm’s peak in 2000 when its NetNet Fund was the world’s largest internet fund with $11.5bn of assets.

The company currently manages $7.2bn across eight mutual funds, according to Morningstar.

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