Marking its second US deal in the sector, Indian financial services group Religare Enterprises said on Thrusday that it is entering into a strategic investment, through its wholly-owned subsidiary Religare Global Asset Management Inc, in US-based alternative asset manager Landmark Partners for USD 170 million.

Religare Global Asset Management will buy a 55% stake in Landmark, a private equity and real estate fund-of-funds asset manager focused on secondary transactions.

The deal will be funded via capital commitment allocated by the Religare board.

Earlier this year, the company agreed to take a controlling stake in private equity firm Northgate Capital, as part of a USD 1 billion plan to build a global asset management business.