US private equity firm Crestview Partners has emerged as a frontrunner to buy Munder Capital Management, Comerica's 95%-owned fund management arm.

Crestview's interest illustrates the growing determination of private equity firms to get into fund management. US group Hellman & Friedman last month completed the £475m (€689m) buyout of Gartmore UK, the largest such deal on either side of the Atlantic.