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RenCap Opens New Unit

Investment bank Renaissance Capital said it formed a unit for “opportunistic” investments, such as in companies riven by shareholder conflict.

Renaissance Investments plans to make two or three purchases of $30 million to $70 million this year, Yegor Sirota, the fund’s director, said by phone Monday. The company plans to hold stakes for six months to a year. Sirota said he plans to hire four or five other bankers for Renaissance Investments this year. Previously, Sirota ran Alfa-Eco/A1 Investments for eight years. 

(Bloomberg)

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