By Ivan Anderzhanov
Russian investment bank Renaissance Capital and Australia's Macquarie are deepening their existing alliance after entering into an agreement to provide M&A advisory and financing opportunities for Korea clients active in the former Soviet Union.
Macquarie, a global leader in infrastructure, has an existing three-year joint venture with Renaissance to develop infrastructure advisory and fund management opportunities in Russia and other CIS countries.
Emergingmarkets.me understands that the Australian bank is looking to exploit investment banking opportunities in Russia and the CIS. Just how this will affect its relationship with Rencap remains to be see.
The extension of their partnership will provide a broader array of expertise and financial services to both CIS and Korean corporate clients seeking expansion into each market, particularly in the resources and financial services sectors.
Adel Kambar, Rencap's senior banker in Central Asia, said in a statement: "As trade and financial flows between Korea and the CIS continue to increase, this alliance is ideally positioned to offer clients tailored cross-border advisory services."
Macquarie Securities Korea has more than 150 employees and provides services covering corporate advisory, equity underwriting, capital markets and fundraising, derivatives sales and trading, equity sales and research.
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