{{Short description|Russian investment bank}} {{about||the former Ukrainian financial institution|Renaissance Capital Bank|the hedge fund|Renaissance Technologies}} {{Multiple issues| {{Primary sources|date=August 2016}} {{More citations needed|date=March 2011}} {{Promotional|date=June 2023}} }} {{Infobox company | name = Renaissance Capital | logo = Renaissance Capital logo.svg | type = Private | foundation = {{start date and age|1995}} | location = London, United Kingdom | key_people = Ruslan Babaev, Anna Vyshlova, Anthony Simone, Elena Grishina | industry = Finance and Investment Banking | products = Investment Banking | revenue = | operating_income = | net_income = | homepage = {{URL |http://www.rencap.com}} }}
'''Renaissance Capital''' is an emerging and frontier markets focused investment bank founded in 1995 in Russia.<ref>{{cite news |last1=Johnson |first1=Steve |date=13 February 2018 |title=US inflation of 3% is danger level for emerging market equities |website=Financial Times |url=https://www.ft.com/content/daf17908-0b5d-11e8-8eb7-42f857ea9f09 |access-date=1 August 2018}}</ref><ref>{{cite news |last1=Johnson |first1=Steve |date=24 January 2018 |title=African consumer companies see earnings go up in smoke |website=Financial Times |url=https://www.ft.com/content/54f06be6-fd31-11e7-a492-2c9be7f3120a |access-date=1 August 2018}}</ref> The firm has offices in Moscow, London, New York, Lagos, Nairobi, Cairo and Nicosia.<ref>{{Cite web |url=http://www.rencap.ru/ContactUs/ByLocations/?reg=5 |title=| Renaissance Capital}}</ref>
Both Alexander Provotorov (born 7 November 1974, Moscow) and Konstantin Malofeev, who were close friends and classmates at Moscow State University (MSU), worked together at Renaissance Capital after their graduation from MSU in 1996 until its default in 1998.<ref>{{cite news |url=http://chinovniki-rf.ru/provotorov-aleksandr-yurevich/ |title=Провоторов Александр Юрьевич |trans-title=Provotorov Alexander Yurievich |language=ru |work=Чиновники России — "Слуги народа" (chinovniki-rf.ru) |date=23 July 2013 |access-date=25 March 2025 |archive-url=https://web.archive.org/web/20140812183423/http://chinovniki-rf.ru/provotorov-aleksandr-yurevich/ |archive-date=12 August 2014}}</ref>
Since 2012, Renaissance Capital has been part of ONEXIM Group, one of Russia's largest private investment holding companies, owned by Russian billionaire Mikhail Prokhorov.
Renaissance Capital offers investment banking services in debt and equity capital markets, M&A,<ref>{{Cite web |url=http://www.rencap.ru/We_do/InvestmentBanking/ |title=| Renaissance Capital}}</ref> equity and equity derivatives, fixed income, FX and FX derivatives, commodities products,<ref name="rencap.ru">{{Cite web |url=http://www.rencap.ru/We_do/GlobalMarkets/ |title=| Renaissance Capital}}</ref> prime brokerage,<ref>{{Cite web |url=http://www.rencap.ru/We_do/PrimeBrokerage/ |title=| Renaissance Capital}}</ref> research,<ref>{{Cite web |url=http://www.rencap.ru/We_do/Research/ |title=| Renaissance Capital}}</ref> as well as REPO and financing.<ref name="rencap.ru"/>
As of 30 June 2021, the Firm’s total assets and equity amounted to $3.62bn and $476mn, respectively, and the reported 1H21 net profit was $6.45mn.<ref>{{cite web |url=https://www.rencap.com/news/renaissance-capital-posts-healthy-financial-performance-in-1h21 |title=| Renaissance Capital}}</ref>
==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.
Since 2004, Oleg Zhelezko, at the invitation of Stephen Jennings, took control of the direction of trading in derivative securities in the Renaissance Capital investment bank<ref>{{Cite web |title=Олег Железко — эксперт в индустрии прямых инвестиций |url=https://profile.ru/profil/oleg-zhelezko-ekspert-v-sfere-pryamyh-investicij-1290850/ |access-date=2023-05-05 |website=Профиль |language=ru-RU}}</ref><ref>{{Cite web |last=BFM.ru |title=Железко Олег Викторович - персоны на BFM.ru |url=https://www.bfm.ru/person/9139 |access-date=2023-05-05 |website=BFM.ru - деловой портал |language=ru}}</ref><ref>{{Cite web |title=Олег Железко: фонд Да Винчи и карьерный путь бизнесмена |url=https://whoiswho.dp.ru/cart/person/1939825 |access-date=2023-05-05 |website=whoiswho.dp.ru |language=ru}}</ref>
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”.<ref>{{cite web |url=http://www.onexim.org/_upload/news/filename_document_92.pdf |title=ONEXIM Group and Renaissance Group Form Strategic Partnership in Investment Banking |website=Onexim.org |access-date=1 August 2018}}</ref>
In 2010, Renaissance Capital paid 207 million rand ($27 million) to acquire Barnard Jacobs Mellet Securities Ltd., the South African stock brokerage.<ref>{{cite web |url=https://mg.co.za/article/2010-05-03-rencap-buys-bernard-jacobs-mellet-for-r207m |title=Rencap buys Bernard Jacobs Mellet for R207m |website=Mail & Guardian |date=3 May 2010 |access-date=1 August 2018}}</ref>
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.”<ref>{{cite web |url=http://www.onexim.org/media/pressreleases/329/ |title=::ONEXIM::Media Centre::Press Releases and Statements |website=Onexim.org |access-date=1 August 2018 |archive-date=1 August 2018 |archive-url=https://web.archive.org/web/20180801220909/http://www.onexim.org/media/pressreleases/329/ |url-status=dead }}</ref> The transaction was completed in April 2013, following the receipt of all necessary regulatory approvals.<ref>{{cite web |url=http://www.onexim.org/media/pressreleases/344/ |title=::ONEXIM::Media Centre::Press Releases and Statements |website=Onexim.org |access-date=1 August 2018 |archive-date=1 August 2018 |archive-url=https://web.archive.org/web/20180801190301/http://www.onexim.org/media/pressreleases/344/ |url-status=dead }}</ref>
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<ref>{{cite web |url=https://www.iol.co.za/business-report/economy/renaissance-capital-founder-jennings-plans-to-double-investment-in-africa-730873 |title=Renaissance Capital founder Jennings plans to double investment in Africa - IOL Business Report |website=Independent Online|location=South Africa |access-date=1 August 2018}}</ref> and opened offices in Johannesburg, Cape Town and Cairo in 2010, 2015 and 2017 respectively.<ref>{{cite web |url=https://www.globalcapital.com/article/vqrnsskzn58k/rencap-opens-new-cape-town-office |title=RenCap opens new Cape Town office |website=Globalcapital.com |date=22 December 2015 |access-date=1 August 2018}}</ref><ref name="auto">{{cite news |url=https://www.reuters.com/article/renaissance-capital-growth/renaissance-capital-to-open-egypt-office-idUSL8N1HZ3OM |title=Renaissance Capital to open Egypt office |website=Reuters.com |date=27 April 2017 |access-date=1 August 2018}}</ref><ref>{{cite web |url=https://af.reuters.com/article/ghanaNews/idAFLDE61O20L20100225 |archive-url=https://web.archive.org/web/20180322015230/https://af.reuters.com/article/ghanaNews/idAFLDE61O20L20100225 |url-status=dead |archive-date=22 March 2018 |title=Renaissance Capital opens South African offices |website=Reuters.com |access-date=1 August 2018}}</ref>
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.<ref name="auto"/>
In July 2019, Renaissance Capital became a trading member of Astana International Exchange (AIX) in Kazakhstan.<ref>{{cite web |url=https://www.aix.kz/news-announcements/aix-news/kazpost-jsc-and-renaissance-capital-have-become-trading-members-of-aix/ |title=Kazpost JSC and Renaissance Capital have become trading members of AIX {{!}} AIX |website=www.aix.kz |url-status=dead |archive-url=https://web.archive.org/web/20200623010821/https://www.aix.kz/news-announcements/aix-news/kazpost-jsc-and-renaissance-capital-have-become-trading-members-of-aix/ |archive-date=2020-06-23}}</ref>
==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.<ref name="euromoney.com">{{cite web |url=https://www.euromoney.com/article/b16t82557sl1j2/restructured-renaissance-capital-picks-its-battles |title=Restructured Renaissance Capital picks its battles |website=Euromoney |date=6 February 2018 |access-date=1 August 2018}}</ref>
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.<ref name="euromoney.com"/> The firm has managed transactions in Nigeria, Kenya, South Africa, Ethiopia, Uganda, Rwanda, Tanzania, Egypt and Zambia.<ref>{{Cite web |url=http://www.rencap.ru/We_do/InvestmentBanking/ECMTransactions/ |title=| Renaissance Capital}}</ref>
==Product offering== Renaissance Capital offers a variety of investment banking services in debt and equity capital markets and M&A,<ref>{{Cite web |url=https://www.rencap.com/We_do/InvestmentBanking/ |title=| Renaissance Capital}}</ref> sales and trading in equity, fixed income, FX and derivatives, hedging, REPO and financing, as well as prime brokerage<ref>{{Cite web |url=https://www.rencap.com/We_do/PrimeBrokerage/ |title=| Renaissance Capital}}</ref> and research.<ref>{{Cite web |url=https://www.rencap.com/We_do/Research/ |title=| Renaissance Capital}}</ref> 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.<ref>{{Cite web |url=https://www.rencap.com/News/PressReleases/?id=531 |title=| Renaissance Capital}}</ref>
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;<ref>{{Cite web |url=https://www.veon.com/media/media-releases/archive/vimpelcom-celebrates-the-10th-anniversary-of-its-nyse-listing/ |title=VEON |access-date=2020-06-21 |archive-date=2020-06-23 |archive-url=https://web.archive.org/web/20200623130726/https://www.veon.com/media/media-releases/archive/vimpelcom-celebrates-the-10th-anniversary-of-its-nyse-listing/ |url-status=dead }}</ref> ALROSA $1.3bn IPO in October 2013 – the largest IPO ever on Moscow Exchange;<ref>{{Cite web |url=http://eng.alrosa.ru/about-us/history/ |title=History | Alrosa}}</ref> RUSAL $2.24 bn IPO in January 2010 – Hong Kong’s first ever offering by a Russian company;<ref>{{cite web |url=https://rusal.ru/en/about/facts/ |title=History}}</ref> as well as major retail IPOs – Rosneft $10.7 bn IPO in July 2006<ref>{{cite web | url=https://www.rosneft.com/press/releases/item/114539/ | title=Rosneft Reports US GAAP Results for the Three and Six Months Ending June 30, 2006 }}</ref> and VTB c.$8 bn IPO in May 2007.<ref>{{Cite web |url=https://www.vtb.com/o-banke/gruppa-vtb/istoriya/ |title=History of VTB Group |access-date=2020-06-21 |archive-date=2019-01-05 |archive-url=https://web.archive.org/web/20190105201110/https://www.vtb.com/o-banke/gruppa-vtb/istoriya/ |url-status=dead }}</ref>
In the frontier and emerging space, Renaissance Capital has organised a number of transactions including the following:
* A GEL500 million three-year senior bond issue for Bank of Georgia, the first-ever local currency international bond issue out of Georgia.<ref>{{cite news |url=https://www.reuters.com/article/georgia-bank/bank-of-georgia-hires-jp-morgan-renaissance-capital-for-eurobond-roadshow-idUSL8N1ID7LG |title=Bank of Georgia hires JP Morgan, Renaissance Capital for Eurobond... |website=Reuters.com |date=11 May 2017 |access-date=1 August 2018}}</ref> * A RUB15bn issue for Kazakhstan Temir Zholy (KTZ), the state railway company of the Republic of Kazakhstan, the first corporate issue for a foreign borrower in the Russian domestic rouble market.<ref>{{cite web |url=http://cbonds.com/news/item/964139 |title=New bond issue: Kazakhstan Temir Zholy issued international bonds (XS1713475132) with a 4.85% coupon for USD 780.0m maturing in 2027 |website=cbonds.com |access-date=1 August 2018}}</ref> * A $350 million eurobond sale for Eurotorg, the first corporate international bond issuance by a Belarusian company.<ref>{{cite news |last1=Foy |first1=Henry |date=6 October 2017 |title=Supermarket chain to issue Belarus's first corporate eurobond |website=Financial Times |url=https://www.ft.com/content/44dde3c6-aaa4-11e7-ab55-27219df83c97 |access-date=1 August 2018}}</ref><ref>{{cite web |url=https://www.debtwire.com/info/eurotorg-shops-debut-bond-even-9-10-bargain-yields-may-struggle-entice-investors-given-bagful-3 |title=Eurotorg shops for debut bond, but even 9%-10% bargain yields may struggle to entice investors given bagful of concerns – Deal Preview |date=20 October 2017 |website=Debtwire.com |access-date=1 August 2018 |archive-date=22 March 2018 |archive-url=https://web.archive.org/web/20180322021946/https://www.debtwire.com/info/eurotorg-shops-debut-bond-even-9-10-bargain-yields-may-struggle-entice-investors-given-bagful-3 |url-status=dead }}</ref> * Nigeria's NGN10 billion debut corporate infrastructure bond for Viathan Group, a private equity-backed company, providing power to the government, household and businesses in Nigeria, using natural gas as fuel.<ref>{{cite news |url=https://www.reuters.com/article/nigeria-corpbonds/private-equity-backed-viathan-issues-nigerias-debut-10-year-guaranteed-naira-bond-idUSL8N1OY3DM |title=Private equity-backed Viathan issues Nigeria's debut 10-year... |website=Reuters.com |date=3 January 2018 |access-date=1 August 2018}}</ref> * A UGX167bn IPO of CiplaQCIL, a Uganda-based pharmaceutical producer of high-quality and affordable life-saving medicines, on the Ugandan Stock Exchange.<ref>{{cite news |title=CORRECTED-Ugandan unit of Indian drugs firm Cipla raises $43.8 mln in IPO - Renaissance Capital |website=Reuters |date=17 September 2018 |archive-url=https://web.archive.org/web/20200806205616/https://www.reuters.com/article/uganda-ipo/corrected-ugandan-unit-of-indian-drugs-firm-cipla-raises-438-mln-in-ipo-renaissance-capital-idUSL8N1W32AW |archive-date=2020-08-06 |url-status=live |url=https://www.reuters.com/article/uganda-ipo/corrected-ugandan-unit-of-indian-drugs-firm-cipla-raises-438-mln-in-ipo-renaissance-capital-idUSL8N1W32AW}}</ref> * The Bank of Kigali Group rights issue and private placement, which raised c. KES7bn, making it the largest-ever capital raise in Rwanda and the largest capital markets transaction in East Africa in 2018.<ref>{{Cite web |url=https://www.theeastafrican.co.ke/business/Bank-of-Kigali-finally-cross-lists-at-Nairobi-bourse/2560-4875764-5d0bww/index.html |title=Bank of Kigali shares start trading on Nairobi bourse |date=5 July 2020}}</ref> * Gazprom’s CHF750mn international bond issue with the 1.45% coupon rate, the lowest-ever coupon by an emerging markets (EM) corporate.<ref>{{Cite web |url=http://cbonds.com/emissions/issue/413475 |title=International bonds: Gazprom, 1.45% 6mar2023, CHF (45) (CH0404311711, GAZ-23 CHF)}}</ref> * A CHF200mn four-year issue for Africa Finance Corporation, with the lowest coupon an African issuer has ever achieved in the CHF market.<ref>{{cite web |url=https://www.africafc.org/News-Events/News-Press-Releases/Africa-Finance-Corporation-Issues-CHF200-Million-4.aspx |title=AfricaFC - Africa Finance Corporation Issues CHF200 Million 4-Year Benchmark Bond |website=africafc.org |url-status=dead |archive-url=https://web.archive.org/web/20200622124041/https://www.africafc.org/News-Events/News-Press-Releases/Africa-Finance-Corporation-Issues-CHF200-Million-4.aspx |archive-date=2020-06-22}}</ref> * Debut $300mn international bond issue<ref>{{Cite web |url=https://www.investegate.co.uk/tbc-bank-group-plc--tbcg-/rns/tbc-bank-prices--300-mln-senior-unsecured-notes/201906121720010249C/ |title=Investegate |TBC Bank Group PLC Announcements | TBC Bank Group PLC: TBC Bank prices $300 MLN Senior Unsecured Notes |access-date=2020-06-21 |archive-date=2020-06-22 |archive-url=https://web.archive.org/web/20200622063238/https://www.investegate.co.uk/tbc-bank-group-plc--tbcg-/rns/tbc-bank-prices--300-mln-senior-unsecured-notes/201906121720010249C/ |url-status=dead }}</ref> and debut $125mn additional tier 1 issue for TBC Bank – the largest ever amount issued by a Georgian bank in AT1 format.<ref>{{Cite web | title=– Company Announcement - FT.com | url=https://markets.ft.com/data/announce/detail?dockey=1323-14126024-7HO29KNVVURSVU0GI24BI0S4B2 | access-date=2025-02-20 | website=markets.ft.com}}</ref>
==References== {{portal|Banks|Russia|Companies}} {{Reflist}}
{{Major investment banks}} {{Authority control}}
Category:Russian investment banks Category:Companies based in Moscow * Category:Financial services companies of Russia Category:Financial services companies established in 1995 Category:Banks established in 1995 Category:Mikhail Prokhorov