Mumbai: Financial services company Religare Enterprises today announced that it has acquired majority stake in Northgate Capital, an international private equity company having offices in London and San Francisco.

Religare and Northgate have signed a definitive agreement for the former to acquire a majority equity interest in Northgate's management company. Religare did not disclose the cost of acquisition. Northgate's five partners will continue to retain controlling interests in Northgate's genreal partner entities, it said.

"In addition, there will be no changes to Northgate’s management team, investment staff, or day-to-day operations, investment committee and investment processes as a result of the partnership with Religare,'' it said.

Besides, Religare also announced that its board has approved a commitment of $ 1 billion (Rs 4600 crore) for global acquisitions.