Paul Weiss bags Religare – closes Northgate buy along with Shearman

Northgate Capital, a leading global private equity and venture capital firm managing $3 billion worth investments, was acquired by the Malvinder Singh family controlled Religare Enterprises..Religare will now own a majority equity interest and will act as the management company to Northgate’s investment funds. The Malvinder Singh family that owns Religare has been scouting for acquisitions ever since they sold Ranbaxy to Daiichi..Paul, Weiss, Rifkind, Wharton & Garrison led by M&A partners Robert D. Goldbaum and Steven J. Williams advised Religare, which signed a definitive agreement to acquire a majority stake in Northgate for a reported $200 million (Rs. 930 crore). The deal is expected to close by June this year. Sources confirmed that this deal has been Paul Weiss’ first representation for Religare..Shearman & Sterling advised Northgate and was led by New York based M&A Partner John Marzulli, Asset Management Partner Nathan Greene, Tax Partner Don J. Lonczak and counsel Jesse Kanach. Shearman had advised the Singh family controlled Ranbaxy in a variety of transactions including raising $400 million (Rs. 1,860 crore) zero coupon convertible bonds. When Religare went public in 2007, Shearman advised Merrill Lynch on its pre-IPO investments.