Lee Munder Capital Group will acquire a small-cap growth equity team from Crosswind Investments, confirmed Kenneth L. Swan, Lee Munder CEO.
Terms aren't being disclosed, he said.
Andrew Morey will join Lee Munder as a portfolio manager, and Srinivas Anantha and Bryan Lassiter will join as analysts, confirmed Mr. Swan. All three held the same titles at Crosswind and managed all of Crosswind's more than $110 million in assets under management.
At Crosswind, the team managed about $100 million in separately managed accounts and subadvised Affiliated Managers Group's $7.6 million ASTON/Crosswind Small Cap Growth equity fund.
Lee Munder Capital's new growth equity team will replace portfolio manager Thomas Holman and analyst Philip Muscatello, who oversaw more than $60 million in growth equity assets. Messrs. Holman and Muscatello will leave Lee Munder at the end of the month, Mr. Swan said.
Mr. Swan said the change reflects a decision to move away from the secular growth equity strategy the existing team ran.
Neither Mr. Holman nor Crosswind CEO Malcolm MacColl could be reached for comment.