Financial terms of the deal, which is expected to close by Dec. 31, weren’t disclosed.
Integrity will become a wholly owned subsidiary of Munder, which reported $14.1 billion in client assets as of Sept. 30.
In a telephone interview, Matthew Bevin, Integrity’s CEO and principal, said all of the shareholders in privately held Integrity will become shareholders in Munder, and Integrity’s compensation structures remain in place, giving all its employees a vested interest in the combined entity’s success.
Pointing to Munder’s solid capabilities in U.S. and international growth equities, as well as fixed income, Mr. Bevin said the combination will add Integrity’s strengths in value equities to Munder’s lineup, while giving his team access to Munder’s distribution and operational resources, as well as the benefits of being part of a more diversified firm.
Colchester Partners advised Integrity Asset Management on the deal, while Grail Partners advised Munder Capital.