Crestview Partners is looking to sell Birmingham, Michigan-based
Munder Capital Management [
profile] 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.
MFWire 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. 
Edited by:
Tommy Fernandez
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