Religare Enterprises Ltd (REL) is acquiring the 50% stake held by its partner Macquarie Group Ltd in Religare Macquarie Wealth Management Ltd. This move will mean the end of its six-year old wealth management joint venture..Vaish Associates advised its long-standing client Religare with a team led by Banking & Corporate Partner Sandhya Iyer along with Associate Alok Sharma..Amarchand Mangaldas advised Macquarie with a team led by Mumbai based Corporate Partners Ashwath Rau and Aysswarya Murthi..The Amarchand Mangaldas team had also represented Macquarie when the joint venture was set up in 2007 – 2008..The JV currently has close to Rs. 2,800 crore of assets under management servicing over 4,800 clients through its wealth advisors. Post completion of the transaction and necessary formalities, the legal entity will be rechristened as Religare Wealth Management Ltd, reports VCCircle.
Religare Enterprises Ltd (REL) is acquiring the 50% stake held by its partner Macquarie Group Ltd in Religare Macquarie Wealth Management Ltd. This move will mean the end of its six-year old wealth management joint venture..Vaish Associates advised its long-standing client Religare with a team led by Banking & Corporate Partner Sandhya Iyer along with Associate Alok Sharma..Amarchand Mangaldas advised Macquarie with a team led by Mumbai based Corporate Partners Ashwath Rau and Aysswarya Murthi..The Amarchand Mangaldas team had also represented Macquarie when the joint venture was set up in 2007 – 2008..The JV currently has close to Rs. 2,800 crore of assets under management servicing over 4,800 clients through its wealth advisors. Post completion of the transaction and necessary formalities, the legal entity will be rechristened as Religare Wealth Management Ltd, reports VCCircle.