Renaissance Capital

2024

Disclosure of ownership structure

In February 2025, Renaissance Capital disclosed the structure of the owners of the investment company. Maxim Orlovsky, Vladimir Kurov and Igor Danilenko bought the company in November 2024. The top manager of the investment company Maxim Orlovsky (heads the brokerage business - FM) said that he owns 36% of the shares in its capital, the share of the head of Renaissance Capital - Financial Consultant Vladimir Kurov is 32% of the shares, and the head of the management company Renkap Igor Danilenko is the owner of 32%.^[1]

Sale of Russian business to management

On November 13, 2024, the Onexim group completed the sale of the Russian business of the Renaissance Capital investment group to a team of top managers led by Maxim Orlovsky, Vladimir Kurov and Igor Danilenko.

According to the press service of Renaissance Capital, the transaction includes the transfer of ownership of three companies: Renaissance Capital - Financial Consultant, Renaissance Broker and RenCap Management Company. All necessary approvals have been received from the regulatory authorities.

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Фото: Freepik

The sale of assets ends the period of ownership of the Onexim group by the investment holding, which began in 2008. Onexim gained full control of the company, founded in 1995 by Stephen Jennings, in 2012.

In preparation for the change of ownership at the beginning of 2024, the structure of ownership of assets was changed - the management of the company was transferred to Russian jurisdiction. In June 2024, the Expert RA rating agency assigned Renaissance Broker an AA- rating with a stable outlook.

These were a fruitful 16 years of cooperation. Renaissance is a good and promising asset. We are glad to transfer it to reliable hands and at the same time remain in partnership, - said Dmitry Razumov, General Director of Onexim Group.

The new owners identified the priority areas of the company's development - working with institutional clients and private investors, as well as expanding the segment of trust management of assets.

The transfer of the Russian division of Renaissance Capital to management takes place after the global restructuring of the Renaissance Group Holdings holding, which previously worked in the UK and African countries. In 2021, the group's parent company re-registered from Bermuda to Cyprus.^[2]

Change of registration from Cyprus to Russia

In February 2024, the Onexim group of Mikhail Prokhorov re-registered the Renaissance Capital investment company from Cyprus to Russia. This is evidenced by the data of the Unified State Register of Legal Entities (USRUL).

According to Interfax with reference to this register, Onexim Group LLC became the owner of 99.99% of Renaissance Capital - Financial Consultant LLC. Previously, the only participant in Renaissance Capital - Financial Consultant LLC was the Cypriot Renaissance Financial Holdings Limited with the same beneficiary (through Onexim Holdings Ltd.), the news agency said.

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Фото: Unsplash

Renaissance Capital confirmed to the publication the change in the legal structure of ownership as part of the process of separating Russian and international businesses and clarified that the beneficiary of the company remained the same. The publication also states that Renaissance Capital - FC, which came under the control of Onexim Group LLC, owns, in turn, Renaissance Broker.

At the end of 2023, the Cypriot investment banking holding Renaissance Group Holdings (operating under the Renaissance Capital brand), whose companies operate in a number of jurisdictions, including Russia, the USA, Britain, as well as in African countries, announced a global restructuring of its activities. One of the steps in the framework of the restructuring was to be the transition of Russian business (represented by Renaissance Broker and Renaissance Capital - Financial Consultant) to Russian jurisdiction, but "without changing the ultimate beneficiary," Frank Media was told in the press service of Renaissance Capital. They also added that this "transition is related to current regulatory requirements and is designed to ensure greater operational flexibility of the business."^[3]

2022: New York office closure amid Ukraine conflict

On May 31, 2022, it became known that Renaissance Capital Investment Bank (RenCap) is closing its office New York in and terminating global research coverage of companies, wrote Bloomberg citing its sources. Also, according to them, RenCap can stop operations through the London office.

Renaissance Capital, according to its data, has eight offices at this time: in Moscow, London, New York, Cairo, Nicosia, Lagos, Nairobi and Johannesburg. More than 500 people work there.

2019

Renaissance Capital is an investment company specializing in emerging and border markets, with offices in Moscow, London, New York, Lagos, Nairobi, Johannesburg, Cape Town, Dubai, Cairo and Nicosia.

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