Support The Moscow Times!

Renaissance Unit Opens

Renaissance Real Estate, established by Renaissance Group this month, plans to launch a new fund to give Russian clients access to international residential and commercial markets. There is expected to be $300 million to $400 million under management in the fund by the end of 2012.

Renaissance Group is already one of the largest players in the real estate market in Russia. It accounts for about 11 percent of the market for closed-end rental investment funds. As of May, the company managed 10.5 billion rubles' ($375 million) worth of commercial property and land assets in Russia in three closed-end investment funds.

Renaissance competitors Troika Dialog and VTB Capital don't have separate units for real estate. The establishment of the real estate unit is the latest in a series of structural initiatives at Renaissance in the past year.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.