Munder Capital Management, a money management firm in Birmingham, Mich., serving institutional and individual investors, today announced that it is acquiring Integrity Asset Management of Louisville, Ky.

Integrity, an institutional management firm with operations in Rocky River, Ohio, will become a wholly owned subsidiary of Munder under the deal.

Integrity Asset Management's investment strategies and management teams will remain in place, and it will retain its current name, location, and brand, according to statement released by Munder..

Integrity, with more than $3 billion in assets under management, provides investment management services to a diverse group of corporate, public, endowment, foundation, Taft-Hartley and sub-advisory clients, according to Munder. .

Munder, which has offices in Boston, has more than $14 billion in AUM. It manages investments on behalf of corporations, retirement plans, insurance companies, municipalities, Taft-Hartley and mutual fund investors, according to the firm.

The transaction is expected to close by December 31, subject to customary closing conditions, including receipt of client approvals.

Colchester Partners acted as financial advisor to Integrity Asset Management. Grail Partners advised Munder Capital.