OREANDA-NEWS. Renaissance Capital, the leading emerging markets investment bank, and ONEXIM Group (Onexim), one of Russia’s largest private investment funds, are pleased to announce that the transaction by Onexim to purchase Renaissance Group’s stake in Renaissance Capital, has been completed. All necessary regulatory approvals have been obtained*.

As a result of the transaction, Onexim has become the indirect shareholder of 100% of Renaissance Financial Holdings Limited (RFHL). “Onexim has been a reliable and committed partner to Renaissance Capital since 2008,” said Igor Vayn, co-CEO, Renaissance Capital. “The completion of the transition of the business to Onexim’s full ownership provides the bank with the strong backing of a leading Russian investment fund for sustainable development, enabling the Firm to continue to grow its business in Russia, while maintaining a balanced focus on other emerging regions globally." John Hyman, Chairman and co-CEO, Renaissance Capital, added, "The combination of Renaissance Capital's unrivalled expertise in emerging and frontier markets, and the presence of such a committed shareholder as Onexim creates unprecedented opportunities for the Firm to grow as a pure-play investment bank in the core business regions where it operates."

“Renaissance Capital is a team, a brand, and it has a history of major achievements, with many more to follow, we’re sure of that,” commented Dmitry Razumov, ONEXIM Group CEO. “Renaissance is a key financial-sector asset in Onexim’s investment portfolio.”

Since 14 November 2012, when Onexim and Renaissance Group announced a series of transactions, whereby Onexim would purchase Renaissance Group’s stake in Renaissance Capital, Onexim has been working closely with Renaissance Capital’s management, and remains committed to the investment bank’s development in the markets of Russia, the CIS, Eastern Europe, Turkey and Africa.

*Application submitted and pending approval from the Capital Markets Board of Turkey. Process is expected to complete in Q213.