Religare will invest US$1bn in asset management firms

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INDIA/US - Indian investment bank Religare Enterprises has announced a US$1bn commitment to make "strategic investments" in asset management businesses worldwide and has started by acquiring a stake in a US private equity firm.

Religare has bought a majority stake in US private equity and venture capital manager Northgate Capital. The deal, which is subject to regulatory approvals, was for an undisclosed sum. It is exp...

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