Munder Capital Management announced yesterday that it plans to complete its acquisition of Integrity Asset Management (IAM), a Louisville, Ky.-based firm focused on the advisement of institutional assets, by the end of the calendar year.

 The Birmingham, Mich. headquartered firm, which manages more than $14 billion within domestic and international equity and fixed-income strategies, stated in its Dec. 1 statement that it has its sights on IAM to become a wholly owned subsidiary. Integrity’s “investment strategies and management teams will remain in places, and it will retain its current name, location and brand,” the announcement said.

While the terms of the agreement were not disclosed, the deal, which would add the seven-year-old firm’s nearly $3 billion in assets under management to Munder’s stable, will close at the end of the month. 

In his comments, Jim FitzGerald, president and chief operating officer at Munder Capital, explained that the union would allow his firm to partner with the likes of Integrity, “an outstanding asset management firm that shares [its] commitment to investment excellence,” the Wednesday press release stated. 

Previously, in July 2009, Munder Capital appointed FitzGerald, its prior chief marketing officer, to serve as its first ever president. In the newly created role, FitzGerald, “a visionary leader,” was put in place to oversee its growth plans, CEO and CIO John Adams said at the time of the promotion.

Integrity’s CEO and Principal Matthew Brevin added that Munder Capital’s “proven strength in operations, compliance, and distribution” will allow IAM to achieve its goal of delivering “investment excellence to “[its] clients while continuing to grow [the] firm in a healthy and prudent manner.”

Presently, Integrity, which operates out of its main Louisville office as well as its Rocky River, Ohio location, specializes in offering value-oriented equity strategies for its corporate, public, endowment, foundation, Taft-Hartley and sub-advisory clients. Alternately, Munder Capital is an independently owned firm that manages assets for corporations, retirement plans, insurance companies, municipalities, Taft-Hartley, and mutual fund investors, the announcement listed.