Evercore Partners (NYSE: EVR), a leading investment banking advisory firm headquartered in New York, USA, and Kotak Mahindra Capital Company Limited (Kotak Investment Banking), a subsidiary of Kotak Mahindra Bank Limited, have entered into an exclusive strategic alliance for cross-border M&A advisory services between India and the United States, the United Kingdom and Mexico.
Through this alliance, two leading investment banks will leverage their combined expertise, strong knowledge of global and local markets and deep corporate relationships to provide high-quality objective advice to their clients.
Kotak Investment Banking is a premier full-service investment bank in India offering a range of financial advisory services and capital market solutions to its clients. The firm has advised major international corporations such as CRH, eBay, Hutchison Whampoa, Lafarge, Standard & Poor’s, Thomas Cook and Walmart on their India entry and acquisition strategies. With strong equity and debt financing capabilities, Kotak is a leading player in the Indian capital markets. In the Indian equity markets, the firm has the leading franchise and track record, and has been ranked the number one Book Running Lead Manager for Equity Public Offerings in FY 2011.
Roger Altman, Executive Chairman of Evercore, says: “We are very pleased to be partnering with Kotak, the leading Indian investment bank. This strategic relationship further expands our global reach and is another critical step in our ability to serve our clients around the globe.”
Commenting on the alliance, Uday Kotak, Executive Vice Chairman and Managing Director, Kotak Mahindra Bank, says: “In the changing landscape of global investment banking, where specialised advisory firms are gaining prominence over bulge-bracket investment banks, we find in Evercore a strong, world-class advisory firm. As the international ambitions of Indian companies grow, their need for high-quality and strategic advice gains importance. With a view to servicing this need, Kotak Investment Banking is building a global footprint with a network of strong partners across key geographies thereby giving our clients expertise and access.”
The US-India and UK-India corridors are important markets for cross-border mergers and acquisitions involving India. In FY 2011, 7 of the 10 largest announced M&A transactions involving India took place in these two corridors. This is expected to continue and increase in the future as the linkages between these economies continue to grow.
