Shearman & Sterling is representing Northgate Capital, a leading global private equity and venture capital firm with $3 billion in assets under management and principal offices in the San Francisco Bay Area and London, in the planned acquisition by Religare Enterprises, an Indian financial services firm, of a majority equity interest in the entity which acts as the management company to Northgate’s investment funds. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first half of 2010. Religare’s move to take a stake in Northgate Capital marks Religare’s first U.S. deal.

Religare is a global financial services group with a presence across Asia, Africa, Middle East, Europe and the Americas. In India, Religare’s largest market, the group offers a wide array of products and services ranging from insurance, asset management, broking and lending solutions to investment banking and wealth management. Northgate Capital is a leading global alternative asset management firm, with principal offices in the San Francisco Bay Area and London, with a focus on investing in private equity and venture capital funds and direct company investments.

The Shearman & Sterling team was led by partner John Marzulli (New York-M&A) and included partners Nathan Greene (New York-Asset Management) and Don J. Lonczak (Washington, DC-Tax) and associates Rory O’Halloran (New York-M&A), Jesse Kanach (New York-Asset Management), Shirin Tang (New York-M&A), Gregory Gewirtz (New York-M&A), Kasey Choi (New York-Asset Management), Mark Gelman (New York-Executive Compensation & Employee Benefits) and Jeffrey Tate (Washington, DC-Tax).