Religare Enterprises Ltd., the Indian financial services company owned by billionaire Malvinder Singh, said it may invest as much as $1 billion buying stakes in asset management companies worldwide. Religare agreed to buy a majority stake in Northgate Capital LLC, a private equity and venture capital firm that manages about $3 billion in assets and has offices in San Francisco and London, the New Delhi-based company said in a statement distributed by PRNewswire. Religare, controlled by the former owners of Ranbaxy Laboratories Ltd., set up its own mutual fund business in 2008 and bought Hichens, Harrison & Co., London’s oldest firm of stockbrokers, in the same year. The money manager has said it plans to open 100 branches in the first three years of operation. […]