Renaissance Capital (Russian company)

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”.[10]

In 2010, Renaissance Capital paid 207 million rand ($27 million) to acquire Barnard Jacobs Mellet Securities Ltd., the South African stock brokerage.[11]

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.”[12] The transaction was completed in April 2013, following the receipt of all necessary regulatory approvals.[13]

Renaissance Capital opened an office in Dubai in February 2014[14], and launched trading in the Middle East markets, including UAE, Saudi Arabia, Qatar, Kuwait, Morocco, Oman and Tunisia.[15]

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[16] and opened offices in Johannesburg, Cape Town and Cairo in 2010, 2015 and 2017 respectively.[17][18][19] In March 2015, Renaissance Capital doubled its net profit from core business for the full year 2014, reporting a total operating income of $250 million.[20]

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.[18]

In July 2019, Renaissance Capital became a trading member of Astana International Exchange (AIX) in Kazakhstan.[21]

Since April 2017, Renaissance Capital has been led by co-CEOs Ruslan Babaev and Anna Vyshlova, who oversee strategy and the day-to-day operations of the firm. Both Ruslan Babaev and Anna Vyshlova had previously served in management positions at the firm.[22]

Dmitry Razumov is chairman of Renaissance Capital's board of directors, providing oversight and guidance on its strategic development and international expansion and managing the firm's relationships with key clients and stakeholders in all of the firm's markets.[23][24]

Anthony Simone, Renaissance Capital's president, focuses on the firm's international offices and institutional client coverage, as well as regulatory, governance and other corporate matters.[25]

Elena Grishina is Renaissance Capital's CFO. Within this role, she is responsible for Renaissance Capital's financing activities and investor relations.[26]

Temi Popoola is CEO for Nigeria, with a focus on equities and developing the firm's investment banking offering in the country.[27][28]

Amr Helal is CEO for North Africa. He has been with the firm since October 2017 as an independent non-executive director in Cairo. In the capacity of chief executive officer, Amr leads the firm's franchise in North Africa and oversees the company's strategy and senior client coverage in the region. [29]

Stanley Kariuki is CEO and head of equities for Kenya, where he oversees the local team and has responsibility for trading and operations.[30][31]

Marios Hadjiyannakis is CEO for Cyprus. He has the overall responsibility for regional business development, operations and regulatory relations.[32]

Renaissance Capital is focused on emerging and frontier markets. The firm has a unique geographical footprint (with offices in Moscow, London, New York, Lagos, Nairobi, Johannesburg, Cape Town, Cairo and Nicosia), thus providing its clients with an unrivalled prime brokerage and investment banking services.[33]

Cairo serves as the focal point for the firm's activities in the Middle East and North Africa.[33][34] One of the landmark transactions in this region was the first equity placement on the Egyptian Stock Exchange, completed in May 2016 on behalf of Egypt El Mansour & El Maghraby Investment and Development Company through an accelerated book build of Crédit Agricole Egypt SAE shares. Renaissance Capital acted as the sole organiser and bookrunner of the placement.[35] 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.[33] The firm has managed transactions in Nigeria, Kenya, South Africa, Ethiopia, Uganda, Rwanda, Tanzania, Egypt and Zambia.[36]

In 2019, The Banker named Renaissance Capital as the Most Innovative Bank from Central and Eastern Europe in the magazine's annual 'Investment Banking Awards' . In 2018, The Banker named Renaissance Capital the Most Innovative Bank for Emerging Markets in the same annual awards.[37] In May 2020, the eurobond issue led by Renaissance Capital for Ardshinbank was named by The Banker as the most outstanding in its category in Europe.[38]

Renaissance Capital won two prizes in the 2017 Cbonds awards, for the bond issuances it organised for UC RUSAL and Kazakhstan Temir Zholy. The Cbonds are Russian bond-focused awards given annually.[39] In 2019, the firm won in the Debut of the Year category, for arranging the debut rouble bond issue for Retail Bel Finance, the issuing entity of Eurotorg at the Cbonds Awards 2019.[40]

Most recently Renaissance Capital has been named the Best in Frontier Markets in 2018 by Global Finance magazine.[41]and #1 in the category Most Impressive Local Bank for CEE Bonds in 2018 by GlobalCapital.[42]

In 2019, Renaissance Capital was named the Best Investment Bank in Russia in 2018 in the Euromoney Awards for Excellence 2019.[43]

In the 2019 Financial Mail Analyst Awards, Renaissance Capital’s research team was ranked fourth for overall equity research for the second year in a row, with every single one of the South Africa and Sub-Saharan Africa analysts was rated in the top 3.[44]

Renaissance Capital offers a variety of investment banking services in debt and equity capital markets and M&A[45], sales and trading in equity, fixed income, FX and derivatives, hedging, REPO and financing, as well as prime brokerage[46] and research.[47]

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.[48]

The firm's award-winning research department[49] offers equity and macro coverage of emerging and frontier economies, with a focus on Africa, the CIS and Asia. Renaissance Capital analysts provide equity research on the following sectors: automotive & transport, consumer & retail, financials, healthcare, industrials, materials, media and technology, metals & mining, oil & gas, real estate and telecommunications.[50]

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[51]; ALROSA $1.3bn IPO in October 2013 – the largest IPO ever on Moscow Exchange[52];RUSAL $2.24 bn IPO in January 2010 – Hong Kong’s first ever offering by a Russian company[53]; as well as major retail IPOs – Rosneft $10.7 bn IPO in July 2006[54] and VTB c.$8 bn IPO in May 2007[55].

In the frontier and emerging space, Renaissance Capital has organised a number of pioneering 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.[56]
• 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.[57]
• A $350 million eurobond sale for Eurotorg, the first corporate international bond issuance by a Belarussian company[58][59].
• Nigeria's NGN10 billion debut corporate infrastructure bond for Viathan Group, a private equity-backed company, providing power solutions to the government, household and businesses in Nigeria, using natural gas as fuel.[60]
• A UGX167bn IPO of CiplaQCIL, a Uganda-based pharmaceutical producer of high-quality and affordable life-saving medicines, on the Ugandan Stock Exchange.[61]
• 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.[62]
• Gazprom’s CHF750mn international bond issue with the 1.45% coupon rate, the lowest-ever coupon by an emerging markets (EM) corporate.[63]
• A CHF200mn four-year issue for Africa Finance Corporation, with the lowest coupon an African issuer has ever achieved in the CHF market.[64]
• Debut $300mn international bond issue[65] and debut $125mn additional tier 1 issue for TBC Bank – the largest ever amount issued by a Georgian bank in AT1 format.[66]

Renaissance Capital organises a number of investor events, including roadshows, 1:1 investor meetings, capital markets days and annual regional conferences around the world, some of which have been held for many years consecutively.[67]

For more than 20 years in a row, Renaissance Capital holds its Annual Russia Investor Conference. [68][69] Renaissance Capital also organises investor conferences in London[70], Cape Town[71], Nairobi[72] and Lagos.[73]

In May 2016, Renaissance Capital also hosted its first Pakistan Investment Conference in London. The two-day event brought together European and US investors, and government and corporate representatives from a wide range of sectors in Pakistan, including financial services, industrials, natural resources, energy, pharmaceuticals and telecoms.[74]

Serving as a gateway to emerging and frontier markets for international investors, most recently, Renaissance Capital held an investor roadshow in Nigeria[75], gathering investors from London, New York, Johannesburg and other markets with an interest in Nigerian bonds and equities.[76] In the beginning of 2020, the firm held its 2nd Annual North Africa Investor Conference in Morocco, which included more than 200 one-on-one meetings between international investors and high-opportunity companies from Morocco and Egypt.[77]