Indian financial services major Religare has signed in a agreement to acquire 65% venture in California-based Northgate Capital which shall total to about $200 million or INR 1,000 crores.

CEO & MD Sunil Godhwani said in a statement, "The partnership will accelerate our process of seeking similar partnerships in other asset classes". This will make Religare to buy majority stake in the investment firm which was co-founded by former top-flight American sportsmen.

Also the company is in the process of buying 51-75% share in several asset management companies across the globe. When the assets under management will reach around $100 billion, the company shall be planning to list the holding company.

Northgate manages around $3 billion in assets & run by player participated in the National Football League namely Mark Harris, Brent Jones and Thomas Vardell who played once for the San Francisco 49ers. Firm's other founders include Hosein Khajeh-Hosseiny and Jared Stone.

Officials of Religare also quoted that Religare is in full planning to expand its overseas operations and invest $1 billion for tactical investments world over. The company last week made a rights issue to raise over Rs 1,800 crore. Its financial services include asset management, life insurance, wealth management, equity and investment banking. BSE on Monday saw its stock closing at Rs 367.