Muller & Munroe Asset Management (M2) is a fund of funds based in Chicago, Illinois. M2 was formed in 1999 by Andre Rice to exclusively focus on managing private equity funds and separate accounts for institutional investors. The firm invests in small and emerging lower middle market managers. The target investment specifically encompasses serial deal investors, spin-outs, funds backed by wealthy families, regionally-focused funds, industry-focused funds and other niche funds. The assets are managed by the executive management team.