Kazimir Partners Limited

The Kazimir Partners company was founded by the former partners of the founder of Renaissance Group Stephen Jennings in Renaissance Capital, Frank Mozyer and Dmitry Kryukov in 2002. Dmitry Kryukov in 2008 left the company, having sold shares to the partner.

In March, 2013 Stephen Jennings sold the last part of the Russian business on asset management — Renaissance Asset Management company. Acted as buyers management of the company and Kazimir Partners.

Under management of management and Kazimir Partners passed all assets which are under control of Renaissance (by estimates of the company, $2.9 billion), including the real estate funds and UCITS funds provided in the countries of Europe, the Middle East, the Republic of South Africa ($700 million). Refused to tell about new structure of ownership of the party of the transaction in more detail^[1].

This transaction means final sale of the rest of investment business of Stephen Jennings in Russia. In group there will be only the African developer "Rendevor" and recently starting business on consumer crediting in Nigeria.

At the end of 2012 several companies applied for business of asset management of Renaissance Group. "In December it was announced that the company can be sold and that consultations with four potential buyers are conducted. In January there was Kazimir" — noted the source close to RAM.

Transaction amount of the party is not disclosed. By estimates of market participants, it can vary from 1.5% to 2% of net assets value which are under control of UCITS. Thus, from sale "The Renaissance Asset management" Renaissance Group will gain $10-14 million. "From all sold assets only UCITS are the most transparent and market assets therefore transaction amount, most likely, will be tied to the net assets value of such funds" — the head of the Russian management company from the top ten estimated the transaction.

According to the top manager of one of large investment companies who conducted negotiations on purchase "The Renaissance Asset management", last year of Renaissance Group wanted to receive $8-10 million for it. "But we did not become interested in an asset as it is difficult to estimate its business" — the interlocutor noted. According to the CEO Doveritelnoy and investment company of Oleg Mazurov, the Russian players well understand what falls under internal jurisdiction, and not really in what is beyond its limits. "Therefore it is quite logical that management of the company and the foreign company acted as buyers" — the expert notes. "UCITS are similar to the Russian open-end funds, they rather transparent and are well regulated, but because they are intended for foreign investors, they are uninteresting to us — Irina Krivosheyeva noted — therefore from the very beginning of our negotiations we were interested only in Mutual funds of the company".

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