India's Religare eyes $1 bln in asset manager buys
Indian financial services group Religare Enterprises Ltd (RELG.BO) agreed to take a controlling stake in private equity firm Northgate Capital, as part of a $1 billion plan to build a global asset management business. Northgate, with $3 billion under management, is Religare's first U.S. deal and the Indian company is hoping to end the year with at least $60 billion to $65 billion of assets under management through further acquisitions, Religare Enterprises Chief Operating Officer Shachindra Nath told Reuters.
23 February 2010•2 mins read
