Valores Capital Partners, a boutique merchant bank focusing on the money management industry, opened this week with offices in New York and Mumbai, confirmed founder and managing member Karamvir Gosal.
The new firm will have a global focus on the industry and affiliated sectors, and a broader financial sector focus in the Indian market.
In a telephone interview, Mr. Gosal, who over the past 12 years has served as a managing director in the financial institutions groups of Jefferies, Credit Suisse and Putnam Lovell, said Valores will provide M&A and strategic advisory services.
Mr. Gosal said he will lead the firm's New York office, while C.L. Handa, previously a managing director at Indian boutique investment bank Sobhagya Capital, will serve as managing director of the Mumbai office.
Hal Strong, an operating executive with private equity firm Genstar Capital and former COO and CFO of Russell Investments, and Phil Maisano, former chief investment officer at Dreyfus and chief investment strategist of that firm's parent company, BNY Mellon Asset Management, will serve as senior advisers to Valores, according to a news release.
Mr. Gosal said the decision to complement the firm's global focus on money management with a targeted effort on India's broader financial services industry reflects the “huge opportunity” that the inevitable rise in savings and demand for financial services will spawn there over the midterm to long term. The same trends could find Valores broadening its focus to the wider Asia-Pacific region over time, he said.