Evercore Partners Inc. (EVR), the investment bank founded by Roger Altman, and Kotak Mahindra Bank Ltd. (KMB) will work together to advise on acquisitions involving India, the U.S., the U.K. and Mexico.
Evercore and Kotak Mahindra Capital Co., a unit of Mumbai- based Kotak Mahindra Bank, signed the agreement today, the companies said in a joint statement, without giving financial details of the deal.
Kotak Mahindra, controlled by billionaire Uday Kotak, aims to tap overseas markets after the value of acquisitions in India slid 41 percent this year as rising borrowing costs and a stock market slump cut the appetite for deals. The alliance will expand New York-based Evercore’s network of global partners, Altman said in the statement.
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