Ulaanbaatar, March 24, 2010 – Emerging markets investment bank Renaissance Capital announces today it is launching operations in Mongolia, the frontier market that is set to be the fastest-growing economy in the world over the next decade.

Renaissance Capital has signed strategic partnership agreements with Mongolia’s two leading investment firms, Mongolia International Capital Corporation (MICC) and Monet. These alliances, combined with Renaissance Capital’s unrivaled expertise in frontier markets, position the Firm to take advantage of investment banking opportunities as Mongolia increasingly integrates with global capital markets.

In Mongolia, Renaissance Capital will focus on equity and fixed income capital raisings, cross-border mergers and acquisitions, and privatization advisory.

MICC is Mongolia’s full-service investment bank, offering a full range of investment banking products including corporate advisory, securities underwriting, brokerage, and asset management services. MICC is licensed by the Financial Regulatory Commission (FRC) of Mongolia to act as a financial advisor and underwriter for the listing of securities on the Mongolian Stock Exchange and has acted on a number of sizeable public and private transactions.

Monet is an Ulaanbaatar-based corporate finance boutique operating in the Mongolian capital market since 1997. The firm, licensed by the FRC to provide brokerage, dealing and underwriting services, acted as a lead underwriter on several IPOs and bond issuances and currently provides corporate and government clients with advisory services on mergers and acquisitions, privatizations and other investment decisions.

“The scale of the opportunity in Mongolia is massive,” said Adel Kambar, Renaissance Capital CEO for Central Asia. “It is a singularly unique opportunity to work in a country at its point of inflection as it transforms into a vibrant emerging market economy and a commodity exporter on a global scale.”

Renaissance Capital initiated Research coverage of the country in December of last year with a major report authored by Head of Research Roland Nash titled, “Mongolia: Blue-sky opportunity.” The report said Mongolia is well positioned to be the fastest-growing economy in the world over the next decade.

“Mongolia’s transformation is now unstoppable,” said Roland Nash. “Over the next five years, production of coal will double, gold production will triple and copper output will quadruple. As these resources are brought to market, Mongolia will be transformed into a major economy and its financial markets will become increasingly sophisticated.”

The move into Mongolia follows Renaissance Capital’s expansion into South Africa last month and its build-out in Central and Eastern Europe. In December, Renaissance Capital announced a strategic alliance with India’s leading investment bank, Kotak, that focuses on cross-border merger and acquisition advisory.

About Renaissance Capital (www.rencap.com)
Renaissance Capital is a leading emerging markets investment bank. Today the firm operates on the markets of Russia, Central and Eastern Europe, Central Asia and Sub-Saharan Africa. Renaissance Capital has market-leading positions in each of its core businesses – M&A, equity and debt capital markets, securities sales and trading, research and derivatives. Renaissance Capital is part of the Renaissance Group (www.renaissancegroup.com)