Renova Group

Viktor Vekselberg exercises final authority as owner-chairman. The group operates through distinct executive teams: Russian industrial assets report to Moscow-based management aligned with Vekselberg directly, while Western investments flow through Columbus Nova under CEO Andrew Intrater, Vekselberg's cousin. Intrater has independent decision-making authority within the Columbus Nova mandate but coordinates strategic direction with Vekselberg.

The 2013 sale of TNK-BP to Rosneft unlocked approximately $7 billion in proceeds for Vekselberg's affiliates, transforming Renova from an industrial holding company reliant on operating cash flows into a globally positioned family office. The liquidity event funded expanded real estate acquisitions in New York and Florida, technology investments through Columbus Nova, and a significant art repatriation program before sanctions from 2018 onward constrained cross-border capital movement.

Columbus Nova is the US-based family-office affiliate controlled by Andrew Intrater, Vekselberg's cousin. It functions as an autonomous investment platform sourcing venture capital, private equity, and real estate opportunities in Western markets. While Intrater manages day-to-day operations independently, Columbus Nova ultimately invests capital on behalf of entities linked to the extended Vekselberg family network.

US sanctions designated Viktor Vekselberg in April 2018, freezing assets and restricting transactions. Viktor Vekselberg was also sanctioned by the UK and EU following Russia's 2022 invasion of Ukraine. Columbus Nova restructured its ownership and publicly distanced itself from Vekselberg direct control. Western bank accounts and property holdings have faced periodic seizure actions, including proceedings by the Superior Court of Ontario in February 2024 targeting sanction-linked assets.

The group's venture activity through Columbus Nova has largely been direct, including early-stage positions in Uber and Airbnb. On the industrial side in Russia, Renova historically used joint-venture structures — notably TNK-BP with BP and the SUAL merger that created Rusal — rather than third-party fund commitments. The family's Swiss entities are believed to allocate to external managers for developed-market liquid assets, though the specific fund-of-funds book is not publicly catalogued.

The core wealth originates from Viktor Vekselberg and Leonid Blavatnik's 1997 acquisition of a stake in Tyumen Oil Company during Russia's post-Soviet privatizations. They restructured it into TNK-BP, a 50-50 joint venture with BP. The 2013 sale to Rosneft generated approximately $55 billion total consideration, with the partners' share estimated around $14 billion. Vekselberg also controlled the SUAL aluminum holdings that merged into UC Rusal in 2007.

The Vekselberg family operates the Link of Times Cultural and Historical Foundation, which focuses on repatriating Russian cultural artifacts, including the acquisition of the Forbes Fabergé egg collection in 2004. The foundation maintains the Fabergé Museum in Shuvalov Palace, St. Petersburg. Separately, Vekselberg served as president of the Skolkovo Foundation, Russia's technology and innovation campus initiative. Both entities operate independently of Renova's investment activities.