A number of suitors have lined up to buy Munder Capital [profile] from Crestview Partners, according to Jessica Toonkel at Reuters.

Toonkel reports that the suitors include the following private equity players: a partnership between the Blackstone Group and Advent International; Lightyear Capital, Genstar Capital and and Thoma Bravo.

The asset manager also eying Munder is Pacific Life Insurance, according to Toonkel.

The Reuters scribe reports that the deal could be valued up to $400 million. Bids are due by mid-September, Toonkel writes. She also reports that Goldman Sachs has been hired to handle the sale.

Crestview has owned Munder since 2006. News first broke that the PE firm was looking to sell the asset manager in June.

The Chicago PE shop has been active in the asset management space this year. In February, Crestview took part in a management buyout of Victory Capital.

In March, it was reported that Crestview was mulling a bid for Ridgeworth Capital[profile].  

Edited by: Tommy Fernandez


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE