JOHANNESBURG (Reuters) - South African investment bank Rand Merchant Bank (RMB) has entered into an alliance with Australia's Caliburn Partnership to explore cross-border deal opportunities, the group said on Tuesday.

The alliance will enable RMB to advise local companies investing in Australia and Australian firms wanting to invest in South Africa, it said.

Caliburn is one of the leading independent corporate advisory groups in Australia and advised retailer Edcon during its 25 billion rand buyout by private equity group Bain Capital.

"We believe that there are strong potential business flows between these two southern hemisphere markets and we have grown to trust and respect the skills and compatibility of approach that RMB offers," Caliburn joint Chief Executive Officer Simon Mordant said in a statement.

RMB is owned by banking group FirstRand Ltd.