DLA Piper has advised the Renaissance Insurance Group on the sale of its 100% stake in Renaissance Pensions to the non-state pension fund of Russia’s Sberbank. Herbert Smith Freehills reportedly advised the buyer.
Renaissance Pensions is a private pension fund that serves around 200 corporate customers, over 42,000 clients, and manages RUB 24.5 billion in assets. According to DLA Piper, the fund will remain a separate legal entity for at least a year following the transaction.
DLA Piper’s team consisted of Moscow-based Partner Steffen Kaufmann, Senior Associate Azamat Abdulmenov, and Associate Roman Abu Salekh, as well as Vienna-based Partner Christoph Mager and Senior Associate Ekaterina Larens.