Behind frosted glass in rooms off- limits to anyone who isn't cleared for access, analysts at research firm Copal Partners calculate company valuations, compile industry data and write case studies of past mergers. Their specialty is pitch books, the reports that investment banks use to win M&A deals.
The Copal team is working in an office building in the New Delhi suburb of Gurgaon; its clients are Wall Street banks halfway across the globe.
``Copal does some of the things that we would do ourselves, but frankly we don't have all the time in the world,'' says Stephen Green, founder and chairman of NoonMark Advisors LLC, a privately owned New York investment bank that uses Copal's merger, company and industry analysis. ``You have a need to constantly keep your cost structure down.''...MORE