Merrill Lynch Acquires Minority Stake in Copal Partners

Merrill Lynch, a US-based financial management and advisory company, has acquired a minority stake in Copal Partners, an Indian research firm, through an investment of USD 11 million in the company. The size of the stake acquired by Merrill Lynch was not disclosed. Deutsche Bank, a German financial services provider, and Citigroup, a New York-based financial services company, are the other investors and clients of Copal Partners.

At present, Copal Partners employs about 550 professionals across its operations in India, the UK, the US, and Mauritius. Since the company’s establishment in 2002, it has been offering financial research and analytics services to various investment banks, hedge funds, and private equity funds across the globe. According to Rishi Khosla, the CEO of Copal Partners, Merrill Lynch, Deutsche Bank, and Citigroup collectively hold a stake of about 25 percent in Copal Partners.