is looking to sell Birmingham, Michigan-based Munder Capital Management
] in a deal that could be valued at up to $400 million, Jessica Toonkel from Reuters reports
Toonkel reports that the PE firm has hired Goldman Sachs Group
to run the sale process. Further, she writes that the most likely bidder for Munder would be a fund company that can merge in their funds.
Crestview joined with Munder's management to buy out the firm from Comerica
in 2006 in a $302 million leveraged buyout deal
The PE firm has been especially active in this space this year. In February, it backed the $246 million buyout
of the $22.1 billion Cleveland-based Victory Capital
Meanwhile in March, Crestview was also reported, again by Reuters
, to be one of the potential bidders for Ridgeworth Investments
took a gander at Crestview in this article
The move can be taken as a sign that PE investors have been heartened by healthy growth in the equity markets, and may be looking to make other deals as well.
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