Billionaire businessman Mikhail Prokhorov speaks at a news conference during the "Right Cause" party conference in Moscow September 15, 2011. REUTERS/Denis Sinyakov
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CI Capital as it opens in EgyptRenaissance Capital, the investment bank controlled by Russian billionaire Mikhail Prokhorov, is hiring investment bankers and analysts in Egypt as more vibrant capital markets attract financial services firms to the country. The average deal size in Egypt is between $30 million and $100 million.The Egyptian unit of RenCap was incorporated last week as Renaissance Capital Egypt SAE and expects to receive its investment banking license from the local regulator in the next four to six weeks, Badr said.RenCap doesn't intend to apply for a brokerage license, a market that's already saturated, Badr said.
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