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December 15, 2010

Religare's asset management gathering

Pensions & Investments has an article on Religare's recent PE fund-of-fund acquisitions.
Its strategy is to buy a majority interest in boutique investment management firms and let the acquired firm's executives continue to control the day-to-day work of investing...Religare's board has approved committing up to $1 billion to strategic investments in diversified asset management businesses globally.

“We prefer majority stakes or minority stakes with a path to a majority interest,” he said. “We are looking at opportunities in Europe, Australia, other parts of Asia and Latin America.” However, Mr. Mongia expects most of the acquired firms to be based in the United States. “The U.S. has far and away the deepest and the most developed” investment management business, he said. “Particularly, if you look at the independent boutique firms, they are more compatible with our philosophy and culture.”

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. View free samples of Venture Intelligence newsletters and reports. Email the author at