Under the agreement, Integrity will become a wholly owned subsidiary of Munder Capital Management. Integrity’s investment strategies and management teams will remain in place, and it will retain its current name, location, and brand, a news release said.
Integrity, with more than $3 billion in assets under management, provides investment management services to corporate, public, endowment, foundation, Taft-Hartley, and sub-advisory clients. The firm was named as one of “The Best Managers You Have Never Heard Of” by PLANSPONSOR magazine (see Cover: The Best Managers You Never Heard Of).
This partnership enables both firms to leverage each firm’s strengths. “Our union with Integrity allows us to partner with an outstanding asset management firm that shares our commitment to investment excellence,” said Jim FitzGerald, President and Chief Operating Officer at Munder Capital, in the news release. “Integrity has a stellar investment team, proven investment processes and a consistent long-term track record.”
The transaction is expected to close by December 31, 2010, subject to customary closing conditions, including receipt of client approvals.