American footballers' Northgate Capital changes hands

Established in 2000 by former American football players Brent Jones, Thomas Vardell and Mark Harris, Northgate was set up to make both direct and fund investments. In February 2010, Indian diversified financial services group Religare acquired a majority interest in the group.

Northgate currently has $4.8bn of assets under management, which has been invested in venture capital and private equity funds and deals on behalf of institutional investors.

The Capital Partnership, which has offices in both London and Dubai, has had a relationship with Northgate for 12 years and is one of the largest investors in Northgate's funds. The Capital Partnership was set up in 1998 to provide investment services to the families of its founding partners.

The deal is part of The Capital Partnership's strategy to boost its private equity and venture capital exposure, which currently accounts for 25% of its assets under management.

Following the deal, Northgate will retain its investment and operational autonomy. The Capital Partnership's managing partners Ali Ojjeh will be named chair of Northgate while Hosein Khajeh-Hosseiny, a member of Northgate's management committee, will continue on as managing partner and CEO.

For Religare, the deal is part of its strategy to consolidate and refocus on the Indian market, where it operates a lending business among others.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• LPs
• US