Renaissance Capital

Renaissance Capital is an emerging and frontier markets focused investment bank founded in 1995 in Russia. The firm has offices in Moscow, London, New York, Lagos, Nairobi, Cairo and Nicosia.
Since 2012, Renaissance Capital has been part of ONEXIM Group, one of the largest private investment holding companies in Russia, owned by Russian billionaire Mikhail Prokhorov.
Renaissance Capital offers investment banking services in debt and equity capital markets, M&amp;A, equity and equity derivatives, fixed income, FX and FX derivatives, commodities products, prime brokerage, research, as well as REPO and financing.
As of 30 June 2021, the Firm’s total assets and equity amounted to $3.62bn and $476mn, respectively, and reported 1H21 net profit was $6.45mn.
History.
Renaissance Capital was established in 1995 by a group of founding partners, including Stephen Jennings, Boris Jordan, Leonid Rozhetskin, Anton Kudryashov and Richard Deitz.
On September 22, 2008, ONEXIM Group and Renaissance entered into a strategic partnership whereby ONEXIM Group purchased a 50% (minus one share) stake in Renaissance Capital for $500 million following the issuance of new equity, commenting that the acquisition “presents the opportunity to take Renaissance Capital to the next level”.
In 2010, Renaissance Capital paid 207 million rand ($27 million) to acquire Barnard Jacobs Mellet Securities Ltd., the South African stock brokerage.
In November 2012, ONEXIM Group acquired further stakes in Renaissance Capital which resulted a full ownership of the investment bank and indirect ownership of an 89% stake in the consumer finance bank Renaissance Credit. 
Commenting on the deal, Dmitry Razumov, chief executive officer of ONEXIM Group, said “We strongly believe in the strategy of Renaissance Capital and that the financial resources of ONEXIM will only strengthen the unique position of the bank in the markets in which it operates.”
The transaction was completed in April 2013, following the receipt of all necessary regulatory approvals.
Renaissance Capital has been active in Africa for several years. The firm established a presence on the continent in 2007 with locations in Lagos and Nairobi and opened offices in Johannesburg, Cape Town and Cairo in 2010, 2015 and 2017 respectively.
In April 2017, Renaissance Capital announced the upcoming opening of its Cairo office, focusing on investment banking, financing and research, and received its licence to operate in the country later that year.
In July 2019, Renaissance Capital became a trading member of Astana International Exchange (AIX) in Kazakhstan.
Corporate governance and management.
Renaissance Capital is run by a strong management team with multiyear individual tenure at the firm. The
company has an established track record of high-quality corporate governance based on accountability,
integrity, transparency, and leadership.
Renaissance Capital’s corporate governance practices are aimed at taking effective strategic decisions for
the company as well as always acting to the benefit of its clients. Its relationship with all stakeholders,
including clients and investors, is fully transparent and driven by business needs.
The company has an efficient risk and performance management system in place and adheres to best-
practice internal policies and controls. Also, the company has a mature compliance function, which ensures
observance of applicable laws across legislations in which the company is operating and implementation of
strict KYC procedures for business continuity and resilience.
Geography.
Renaissance Capital is focused on emerging and frontier markets. The firm has offices in Moscow, London, New York, Lagos, Nairobi, Cape Town, Cairo and Nicosia.
Renaissance Capital's office in Lagos (Nigeria) serves as a hub for the firm's West African operations, and its Nairobi (Kenya) office provides a base for its activities in the east of the continent. The firm has managed transactions in Nigeria, Kenya, South Africa, Ethiopia, Uganda, Rwanda, Tanzania, Egypt and Zambia.
Rankings, ratings and awards.
Renaissance Capital became the winner of Global Finance magazine’s inaugural Sustainable Finance Awards 2021 in the categories ‘Outstanding Sustainable Financing in Emerging Markets in CEE’ and ‘Outstanding Leadership in Social Bonds in CEE’.
In 2020, Renaissance Capital has been named 'Investment Bank of the Year for Emerging Markets in Europe' and 'Independent Investment Bank of the Year for Sustainability' in The Banker magazine's annual 'Investment Banking Awards 2020'. Previously, the Banker named Renaissance Capital the Most Innovative Bank for Emerging Markets in 2018 and the Most Innovative Bank from Central and Eastern Europe in 2019.
In 2019, Renaissance Capital was named the Best Investment Bank in Russia in 2018 in the Euromoney Awards for Excellence 2019.
Product offering.
Renaissance Capital offers a variety of investment banking services in debt and equity capital markets and M&amp;A, sales and trading in equity, fixed income, FX and derivatives, hedging, REPO and financing, as well as prime brokerage and research.
The firm has established an algorithmic trading unit as part of its existing derivatives business to meet growing client demand, and capitalise on market opportunities.
Renaissance Capital has acted as organiser on a number of capital markets transactions in Russia, including: Beeline $127.4 mn IPO on NYSE in November 1996 – the first IPO out of Russia; ALROSA $1.3bn IPO in October 2013 – the largest IPO ever on Moscow Exchange; RUSAL $2.24 bn IPO in January 2010 – Hong Kong’s first ever offering by a Russian company; as well as major retail IPOs – Rosneft $10.7 bn IPO in July 2006 and VTB c.$8 bn IPO in May 2007.
In the frontier and emerging space, Renaissance Capital has organised a number of transactions including the following: