Fiduciary Management Associates' senior management bought the firm back from Old Mutual (US) Holdings. Terms were not disclosed. Kathryn A. Vorisek, FMA president and CIO, and Robert F. Carr III, chairman and CEO, led the management buyout, which is expected to close in mid-December. Ms. Vorisek said other senior executives of the firm will also become owners of the firm. No changes in personnel, investment process or client service and administration are planned, Ms. Vorisek said.