Religare Global Asset Management (RGAM), a wholly owned subsidiary and the multi-boutique asset management arm of integrated financial services group, Religare Enterprises Limited, has appointed 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 USD11.5 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 USD8.5 billion in committed capital.
Berkshire 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.
Paresh Thakker (pictured), Head of RGAM says: “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.”
Berkshire adds: “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”.