A trio of investing veterans from Munder Capital Management
] just left Victory Capital Management
]. Another Munder executive is filling their shoes.
has learned that earlier this month Mark Lebovitz
, Jennifer Ralston
, and Ken Smith
left Cleveland-based Victory. The trio had worked on the $495.3-million, three-star
, Munder Growth Opportunities Fund
, with Smith as lead PM and Lebovitz as PM. The fund is now PMed
by Michael Gura
, who joined the team in 2010, and by Munder chief investment officer Tony Dong
could not immediately reach a Victory spokesperson for comment on the changes. Victory bought
Munder in the fall; both were backed by the same private equity firm, Crestview Partners.
In addition to the growth opportunities mutual fund, Gura, Lebovitz, Ralston, and Smith also PMed a similar large cap growth strategies for separate accounts and a multi-cap strategy. Lebovitz, Ralston, and Smith have all worked together as a team at Munder since 1999, the year Smith rejoined Munder. (He also worked at Munder from 1996 to 1998.) All are based in the Detroit area, like Munder. Smith has lead PM the mutual fund since 2005, and the multi-cap strategy since 2010.
Smith tells MFWire
their fund had "a really good track record," especially in the last three years, and that they had "a really outstanding record with the multi-cap strategy." He says that he, Lebovitz, and Ralson are considering different opportunities, both local and national, individually and as a team. They're even contemplating starting up their own shop.
Stay ahead of the news ... Sign up for our email alerts now