Singhi picks up 15% in global i-banking club, Mergers Alliance
Mar 09 2014 , Mumbai
"We have been a member of the Mergers-Alliance since 2007. We recently acquired 15% stake in the 18-year-old global network, which makes us an equal partner along with five other founding members," Singhi Advisors promoter and managing director Mahesh Singhi told PTI.
However, he refused to reveal the quantum of investment citing privacy issues. "More than the return from this investment,it's the value of being a promoter of this exclusive alliance is what is important," he added.
Singhi is the only member/partner from the country in Mergers-Alliance, which allows only one member from a country, he said.
Mergers-Alliance is a leading international network of independent investment banking and corporate finance advisors servicing mid-market deals, and was initially promoted by four i-bankers from Britain, Germany, Italy and Spain. However, from this year, there are six partners with India and Russia joining the club, he said.
The alliance had closed 90 deals worth 5 billion euros last year, and was ranked 16th globally by Thomson Finance.
The founding-members of the Mergers Alliance include Catalyst of Britain, Ethica of Italy and Norgestion of Spain.