Munder Capital Management, Birmingham, Mich., agreed to acquire a 49% interest in Framlington Group, a London international investment manager with $3.5 billion in assets under management. Munder bought the stake of Throgmorton Trust, which co-owned the firm with French bank Credit Commerciale de France, for $34.8 million. There will be no changes in Framlington's staff or structure.
Munder and Framlington plan to develop jointly products and expand Munder's clientele overseas and Framlington's presence in the U.S., where Munder will handle distribution. The deal is expected to close by the first quarter of 1997, subject to regulatory and other approvals.