BOSTON, Jan. 13, 2012 (GLOBE NEWSWIRE) -- Lee Munder Capital Group, LLC today announced plans to acquire a three-person small and smid-cap growth team from Crosswind Investments, LLC. The team, which is led by portfolio manager Andrew Morey, will join Lee Munder Capital Group's Boston office. The transaction is expected to close in January 2012.
Lee Munder Capital Group has $4.7 billion under management and advisement in domestic and global equity and fixed-income strategies. The firm is led by seasoned management and investment professionals who average 24 years of industry experience.
Lee Munder Capital Group was founded in 2000. Since then, it has grown by adding investment teams and providing them with the support needed for sales, marketing, compliance, risk management, and other critical functions. Its specialties include small and mid-cap value and international strategies, and the new team will complement these strategies with its small and smid-cap growth expertise.
"We're excited to add Crosswind's strategies to our firm," said Ken Swan, Lee Munder Capital Group's Chief Executive Officer. "Andrew and his team have a proven ability to invest in small cap and mid-cap growth companies. They will expand our investment offerings and allow us to further develop our investment capabilities and broaden our reach in the institutional and high-net-worth markets."
Crosswind's strategies were launched in December 2007. Since inception through September 2011, the small cap growth strategy has produced top quartile results according to the eVestment Alliance small cap growth universe peer rankings and the smid-cap growth strategy ranks among the top 30 percent of smid-cap growth peers over that period.
About Lee Munder Capital Group
Based in Boston, Lee Munder Capital Group, LLC is affiliated with Convergent Capital Management, LLC, a Chicago based holding company owned by City National Corporation (CYN). For more information, please visit the company's website at www.leemunder.com.