Merrill Lynch closes investment in offshore research provider
Merrill Lynch has made an USD11m investment in Copal Partners, a provider of financial services analytics and research to investment banks, hedge funds and private equity funds, joining as a shareholder two other leading investment banks, Deutsche Bank and Citi.
'Merrill Lynch's financial commitment to us represents a strong vote of confidence in our long-term growth prospects and the validity of our business model,' says Copal chief executive and co-founder Rishi Khosla. 'We are delighted to have them join our other investment banking investors in what we believe is one of the most innovative research and analytics firms to serve the global financial community.'
Founded in 2002 by a group of professionals from GE Capital, Goldman Sachs and McKinsey, Copal has become a leading provider of research and analytics to investment banks, hedge funds and private equity funds, with some 550 employees in the UK, US, India and Mauritius
According to Khosla, Copal has grown by more than 200 per cent annually over the past three years. 'We conducted extensive analysis of the research and analytics marketplace players before selecting Copal,' says David Noh, head of Pacific Rim corporate principal investments at Merrill Lynch. 'What impressed us most was the integrity of Copal's business model and the high-value analysis that makes it stand apart from its competitors.'
Merrill Lynch is one of the world's leading wealth management, capital markets and advisory firms, with offices in 37 countries and territories and total client assets of approximately USD1.5trn.
- By Category
- News from other sites
- Special Reports
- Partner events