Religare Capital acquires South African brokerage
Religare Capital Markets, the investment banking and institutional securities unit of India’s Religare Enterprises, has purchased a controlling stake in South African broker Noah Financial Innovation for an undisclosed price.
Noah provides independent research to the local institutional investment community, and the acquisition expands Religare Capital's existing trading, sales and research capability in South Africa, specifically adding 20 professionals to its global team. The purchase also strengthens Religare's mandate to invest in global emerging markets.
According to a statement, the news comes a year after Religare Capital acquired BJM's assets in the UK and US, which are distribution platforms for South African equities in London and New York. The firm has additionally expanded its team of research analysts who cover the South African market across sectors.
Globally, Religare Capital has a presence in nine countries, managing more than 300 staff, including in the areas of investment banking, analysis and sales.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.