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Kotak Mahindra Capital plans tie-up with European entity

Investment bank Kotak Mahindra Capital will team up with a European partner for cross-border deals. T.V. Raghunath, chief executive of the bank said while there is no exclusive arrangement with an investment bank in Europe, Kotak Mahindra Capital has the ability to serve Europe and it is exploring a more formal tie-up. The bank is expected to forge a partnership with a Europe-based investment bank by the end of the current calendar year. Kotak Mahindra Capital has been missing big-ticket cross-border deals even as it continued to build a better presence in the mid- and small-cap transactions and equity market offers. Large multinational investment banks use their global network, offer loans to companies from their cash-rich balance sheet, and help raise money to acquire or sell companies, while at Kotak, there is a Chinese wall between investment banking and lending operations by the parent Kotak Mahindra Bank. Global banks such as Citi, Morgan Stanley, Goldman Sachs, Barclays and JP Morgan lead the league tables on completed M&A transactions for the calendar year 2013, while Kotak Mahindra Capital ranks 10th with 12 deals worth $4.18 billion.

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