OREANDA-NEWS. June 15, 2011. Renaissance Group, the leading emerging markets investment firm, has established a new business unit, Renaissance Real Estate, providing a range of specialised real estate investment and advisory services. Ekaterina Konstantinova has been appointed as CEO; and Stephen Jennings, CEO of Renaissance Group, will serve as chairman of the unit’s executive committee.

Renaissance Real Estate will focus on managing real estate investment funds in Russia and international markets, and providing advisory services to high-net-worth individuals, and institutional investors seeking access to the Russian real estate market and participation in real estate projects across Renaissance Group’s geographies.

Renaissance Group’s real estate team is already one of the largest players in the market for closed-end rental investment funds in Russia, accounting for about 11% of the market. It manages commercial property and land assets valued at around RUB10.5bn in Russia, in three closed-end investment funds (as of 31 May 2011).

Renaissance Real Estate plans to launch a new real estate fund, targeting assets under management of USD 300-400mn by the end of 2012; and introduce innovative investment instruments that give Russian investors access to international residential and commercial property markets. Renaissance Real Estate also aims to strengthen its business to retain the Group’s leading position in Russian closed-end real estate investment funds, as well as exploring investments in international markets.

As CEO of Renaissance Real Estate, Ms. Konstantinova, who has headed Renaissance Group’s real estate team since 2006, will manage an 11-strong team of professionals with extensive experience in investment analysis and property evaluation, project management, construction supervision, Russian and international law, and asset management. She has 11 years’ experience with leading investment banks and asset management companies, including nine years managing real estate investment funds. She set up one of the first real estate investment funds in Russia and completed the first sale-leaseback transaction in the Russian retail industry.

In Commercial Real Estate magazine’s 2011 CRE 100 ranking, Ms. Konstantinova was named among the five most influential investment professionals in Russian commercial real estate. She is a member of ULI and NAREIT, and a CCIM candidate. Ms. Konstantinova is also a member of the National League of Asset Managers and MICEX SE.

“Ekaterina has a wealth of experience in managing real estate funds, and she is a leading expert in the industry in Russia and the CIS. We are confident that the establishment of Renaissance Real Estate will create successful opportunities for institutional investors in Russia’s property market,” says Stephen Jennings, CEO of Renaissance Group.

Ms. Konstantinova adds, “In the coming years the attractiveness of the Russian property market will increase significantly through key drivers such as macroeconomic stability, a low unemployment rate, high consumer demand, favourable financing terms, the recovery of key market players and the low level of commercial mortgage lending. The Russian property market is on another cycle of growth, and it can offer higher returns compared with Central and Eastern European markets.”