Comerica Inc. may offload its mutual fund division to a private equity firm, reports suggest.

It's been known since at least April that Comerica's seeking a buyer for Munder Funds. According to Banknet360, Munder -- which manages some $41 billion in assets -- has brought bids from "several" private equity firms. The Birmingham, Michigan-based division is expected to fetch in the neighborhood of $1 billion.  

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