NEW DELHI & NEW YORK--(BUSINESS WIRE)--Religare Global Asset Management (RGAM), a wholly owned subsidiary and the multi-boutique asset management arm of integrated financial services group, Religare Enterprises Limited (Bloomberg: RELG@IN), is pleased to announce the appointment of Alan Berkshire as President - North America.
RGAM’s strategy is to acquire equity stakes in top-tier asset management firms around the world with proven performance and capabilities in traditional as well as alternative asset classes. RGAM aims to facilitate the growth of its affiliates by providing wider sales and distribution support and facilitating access to capital and deal flow in countries where Religare’s broader financial services platform has a presence, while leaving the existing management team in-charge of day to day operations.
RGAM platform has about USD 11.5 billion of assets under management. In 2010, RGAM acquired majority equity interest in Northgate Capital, a leading private equity fund of funds with approximately USD 3 billion of AUM. Recently RGAM acquired majority equity interest in Landmark Partners, a private equity and real estate fund of funds focused on secondary transactions with approximately USD 8.5 billion in committed capital.
Alan joins RGAM with over 13 years of senior leadership experience in the asset management industry, most recently as a founding partner of Estancia Capital Management, LLC and prior thereto having served for over 10 years at Nuveen Investments Inc., where his roles included Member of the Office of the Chairman, Head of the Institutional Services Group, Head of the Closed-end Fund/Structured Product Group, and General Counsel. Alan also brings to RGAM 20 years of experience in structuring and executing strategic business transactions and equity ownership arrangements at Nuveen Investments and at the international law firm Kirkland & Ellis LLP, where he was a partner before joining Nuveen.
Commenting on the appointment, Paresh Thakker, Head of RGAM said, “We are delighted to have Alan join RGAM as we accelerate our efforts to build a global business with a significant presence in the US, the world’s largest asset management market. Alan’s wide experience will be extremely valuable to RGAM as we refine and execute our strategic plan to acquire majority stakes in the highest quality asset management firms across product groups and to provide ongoing assistance to those firms to help them grow their businesses.”
Alan Berkshire commented, “I am excited to join RGAM team and play a key role in executing their ambitious plans. Our focus on building a multi-boutique global asset management platform, through which investors around the world can access 'best of breed' managers, and those managers can access business resources and appropriate investment opportunities in the geographic markets that Religare Enterprises serves, is a model for the asset management industry of the future.”
About Religare Enterprises Limited – http://www.religare.com
Religare is an integrated financial services group with presence in several emerging markets and in key international financial centers including Singapore, Hong Kong, London and New York. In India, Religare’s largest market, the group offers a wide array of products and services including securities broking, insurance, asset management, lending solutions, investment banking and wealth management. Religare’s emerging markets focused institutional equities and investment banking business has presence in over 10 countries. Religare has over 8,500 plus employees across multiple geographies serving its clientele, including corporate and institutions, high net worth families and individuals, and retail investors.
Disclaimer:
“Religare Enterprises Limited is proposing, subject to market conditions and other considerations, a rights offering of its equity shares and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of the Securities and Exchange Board of India at www.sebi.gov.in and the respective websites of the lead managers to the Issue at http://www.nomura.com/asia/services/capital_raising/equity.shtml and www.religarecm.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section entitled 'Risk Factors' on page xii of the Draft Letter of Offer.”