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New Delhi June 14 Copal Partners, a provider of financial research and analytics services to investment banks abroad, on Thursday announced that Merrill Lynch has made $11-million investment in the company.

Merrill Lynch joins Deutsche Bank and Citigroup as investors in Copal Partners, which was founded in 2002.

The total investment of the three leading financial service providers in Copal Partners till date stood at $22 million, representing a combined stake of about 25 per cent in the company. "We will use the $11 million for expansion. We are looking at both organic expansion as well as acquisitions in spaces that we are not currently engaged in. These include securitisation and legal outsourcing,'' Mr Rishi Khosla, CEO and co-founder of Copal Partners, told reporters here.

The London-headquartered company is looking to go public through an international listing and the preference would be Nasdaq market, according to Mr Joel Perlman, President of Copal Partners. "This (listing) would not happen this year. It would not be at AIM," Mr Khosla said, when asked if the listing would happen at London's Alternative Investments Market (AIM).

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