Andrey Rappoport: The Professional Journey

Andrey Rappoport is a Swiss-based international investor and the founder of Tira Management, an asset management firm with a portfolio focused on the United States and Europe. The platform he runs today was built on three decades of executive experience at major financial and energy companies across the post-Soviet space — experience that also produced, […]

Andrey Rappoport is a Swiss-based international investor and the founder of Tira Management, an asset management firm with a portfolio focused on the United States and Europe. The platform he runs today was built on three decades of executive experience at major financial and energy companies across the post-Soviet space — experience that also produced, from as early as the mid-1990s, the international investment portfolio that would eventually become his primary professional focus.

Table of Contents:

• Names:
• Early Life and Education
• Rappoport Andrey: Building Alfa-Bank in a Nascent Market
• Rebuilding Russia’s Energy Infrastructure
• Andrey Natanovich Rappoport: A Period of Transition
• Building Tira Management: A Global Investment Platform
• Rappoport Andrey Natanovich: Philanthropy and Social Commitment
• Andrey Rappoport: Biography Takeaways
• Andrey Rappoport Biography: Frequently Asked Questions

Andrey Rappoport

Andrey Rappoport · Andrej Rappoport · Andrew Rappoport · Rappoport Andrei · Andrei Rappoport · A. Rappoport · Rappoport A. · A.N. Rappoport · Andrey Natanovich Rappoport · Andrey Natanovitsj Rappoport · Раппопорт Андрей Натанович · Андрей Натанович Раппопорт · Раппопорт, Андрей Натанович · Андрей Раппопорт · Раппопорт Андрей · А.Н. Раппопорт · Раппопорт А.Н. · Раппопорт А. · А. Раппопорт · Андрей Н. Раппопорт · Раппопорт Андрій Натанович · Rappoport Andrii Natanovych · Андрiй Раппопорт · Раппопорт Андрій · Andrey Rappoport · Andreas Rappoport · Andrej Rappoport · André Rappoport · Andrei Rappoport · Andrea Rappoport · Andrej Rappoport· Andrés Rappoport · Andrei Rappoport

Early Life and Education

Andrey Rappoport was born on June 22, 1963, in Novaya Kakhovka, Kherson Oblast, Ukrainian SSR, and received his secondary education in Severodonetsk, Luhansk Oblast. He went on to study economics at Donetsk State University, completing an internship at Santa Clara University in California as part of a student exchange program, and graduated in 1989 with a degree in national economic planning.

His first professional role came that same year at a management consulting firm specializing in helping Soviet industrial enterprises adapt to emerging market conditions. In 1997, Andrey Natanovich Rappoport earned a PhD from the Institute of Sociology of the Russian Academy of Sciences, with research focused on the development and performance of management structures in commercial organizations.

Rappoport Andrey: Building Alfa-Bank in a Nascent Market

When Andrey Rappoport graduated in 1989, Russia had no functioning commercial banking sector to speak of. The financial system inherited from the Soviet era was built around state institutions, and the early 1990s brought economic dislocation rather than clarity. Rappoport Andrey founded Conso & K, a brokerage business in Donetsk, in 1991, and while running that company received an invitation to join a team in Moscow tasked with building an entirely new commercial bank in such difficult conditions.

That institution became Alfa-Bank. Andrey Natanovich Rappoport was appointed Chairman of the Management Board and spent the next six years building out the full range of banking operations. His approach was deliberately conservative: rather than pursuing aggressive regional expansion, he prioritized product quality and client base stability — a strategy that proved sound when the 1998 crisis eliminated a large portion of Russia’s banking sector. Alfa-Bank survived.

By 1997, Rappoport Andrey Natanovich had sold his 15% stake and stepped down, moving next to YUKOS-Rosprom as First Vice President, where he spent a year on a merger with Eastern Oil Company and its major asset Tomskneft before departing.

It was during this same period, in 1996, that Rappoport made his first investments in foreign securities through Swiss banks — a step that would prove consequential for the direction his career ultimately took.

Rebuilding Russia’s Energy Infrastructure

Russia’s electricity sector was in serious trouble by the late 1990s. The grid infrastructure was roughly 70% obsolete, dozens of regional energy systems were effectively bankrupt, and actual cash payments for electricity sat at between 8% and 20%. RAO UES of Russia, the country’s largest energy holding, was at the center of this dysfunction.

Rappoport Andrey joined RAO UES in 1998 as Deputy Chairman of the Board, with responsibility for investments and financial stabilization. He resumed stalled Soviet-era projects, commissioning the Boguchany and Bureya hydroelectric plants, the Northwest TPP, and others.

Rappoport Andrey Natanovich also focused on restoring payment discipline in the most troubled regions — the Far East and North Caucasus — and resolving the $800 million in energy debts owed by CIS countries, which he addressed through a debt-for-assets swap that secured controlling stakes in:

• Kazakhstan’s Ekibastuz power plant
• Georgia’s Telasi utility
• similar companies from other countries

These assets formed the foundation of Inter RAO UES, a new subsidiary that grew from an electricity trading intermediary into a multi-country producer, with Rappoport Andrey as the Chairman of its Board of Directors.

In 2002, Andrey Natanovich Rappoport was appointed to lead the newly established Federal Grid Company — FGC UES — while continuing his work on the Board of Directors of RAO UES. That same year, Rappoport Andrey Natanovich also founded Energostroyinvest Holding to address the shortage of qualified grid construction contractors, eventually selling it in 2006. RAO UES was liquidated in 2008, and Andrey Rappoport left FGC UES in mid-2009, closing an eleven-year chapter in the energy sector and turning his full attention toward the international investment portfolio he had been building through Swiss banks since 1996.

Andrey Natanovich Rappoport: A Period of Transition

After leaving the energy sector in 2009, Rappoport Andrey directed his attention away from executive roles and toward capital markets, continuing to develop the international investment portfolio he had been building since the mid-1990s.

That focus was interrupted briefly in 2012, when Andrey Natanovich Rappoport took on the role of First Deputy Chairman and advisor to the Chairman of the Board at Rusnano, the state-owned nanotechnology corporation. He was brought in to audit a portfolio of over 90 investments, separate viable projects from underperforming ones, and work alongside Bain & Company on a structural overhaul of the corporation. Rappoport Andrey Natanovich stayed in the role for less than a year.

By 2015, Andrey Rappoport had relocated permanently to Switzerland, continuing his gradual exit from all Russian business holdings and turning his professional focus to the international investments he had begun in the 1990s through Swiss banks. His Russian exit would be fully completed in early 2022.

Building Tira Management: A Global Investment Platform

When Andrey Rappoport relocated to Switzerland, the investment portfolio he brought with him had been accumulating for nearly two decades. His immediate priority upon settling was structure: in 2016, Rappoport Andrey established a family office and began recruiting professionals with experience in Western markets — specialists who understood European and American business on its own terms rather than through the lens of emerging market practice.

The family office’s early orientation was conservative. Assets were concentrated in public market instruments and bank deposits, held with leading international and Swiss banks, with capital preservation as the governing principle. That approach served its purpose, but by 2019 a new investment team joined the operation and initiated a comprehensive reassessment. The result was a new strategic asset allocation framework targeting long-term returns exceeding 10%. Andrey Natanovich Rappoport was not abandoning caution — he was complementing it with a more disciplined, return-oriented model capable of managing both growth and increasing portfolio complexity.

The years between 2020 and 2025 produced significant capital growth, driven primarily by U.S. market exposure and supported by European Union investments. This period reinforced the case for a more sophisticated allocation model, and Rappoport Andrey Natanovich gradually transitioned the portfolio toward an endowment-style investment philosophy — rebalancing major mandates and shifting toward a mix of public and private assets designed for long-term value creation.

In 2023, this evolution was formalized with the founding of the wealth management company Tira Management in Luxembourg, marking the institutionalization of what had previously operated as a family office. Andrey Rappoport now oversees the activity of an international team with over 100 years of combined investment experience, working across a portfolio that targets a 50/50 balance between public and private markets.

In public markets, approximately 75% of assets are allocated to the United States, with the remaining 25% in Europe. The public portfolio emphasizes higher-return strategies, including systematic and tactical approaches, alongside broad equity index exposure. On the private markets side, Rappoport Andrey built the program with deliberate attention to risk: early allocations went predominantly to secondary fund investments to reduce the J-curve effect, before shifting over time toward primary and direct investments with larger commitments to proven managers.

To date, Andrey Natanovich Rappoport is an investor in more than 100 private equity and venture capital funds, with more than half of private fund commitments representing direct investments subject to rigorous vetting by leading global compliance firms. The geographic focus is the United States and Europe, with sector concentration in fintech, telecommunications, and real estate.

Among the most prominent investments are two that date to the early years of the platform. Rappoport Andrey Natanovich was an early-stage investor in Datadog, a New York-based cloud infrastructure monitoring company founded in 2010, which went public on the Nasdaq in 2019 at a valuation of $8.7 billion and was added to the S&P 500 in 2025. He was also an early investor in Delivery Hero, a Berlin-based food delivery platform founded in 2011, which listed on the Frankfurt Stock Exchange in 2017 at a valuation of €4 billion and joined the DAX index in 2020.

More recent investments reflect the broader range of the current strategy. Andrey Rappoport backed Docplanner, a European digital healthcare platform connecting patients with physicians across multiple markets, at an early stage of its international expansion. The company’s portfolio also includes Zoovu, a B2B technology company providing AI-powered product configuration solutions for global enterprises, and Wizz AI, an artificial intelligence company whose enterprise growth led to a strategic acquisition by Google Cloud. Rappoport Andrey also served as a seed investor in a market-neutral hedge fund that has since reached over $500 million in assets under management, delivering consistent risk-adjusted returns across varying market conditions. Real estate holdings include prime properties in London and Florida.

Across all of these positions, Andrey Natanovich Rappoport applies consistent principles: minority stakes rather than controlling interests, primary emphasis on the quality and track record of management teams, a preference for scalable B2B platforms addressing structural market needs, and an interest in companies with measurable social impact in:

• education
• healthcare
• humanitarian services

Rappoport Andrey Natanovich: Philanthropy and Social Commitment

Rappoport Andrey Natanovich has been involved in charitable work for three decades.

In 1996, Rappoport Andrey co-founded the Russian Jewish Congress charitable foundation and served as a bureau member until early 2022.

In 2006, he became a founding sponsor of the Moscow School of Management Skolkovo — a fully private, non-profit institution offering Western-standard business education with no government involvement. From 2011 to 2016, Andrey Natanovich Rappoport served as both President and teacher at the school. After stepping down, he remained on the coordinating council, without operational involvement, concluding all ties to the institution in early 2022.

Andrey Rappoport: Education & Academic Career:

• 1989 — Donetsk State University
  Degree in national economic planning (economics faculty)
• 1989 — Santa Clara University, California
  Internship as part of a student exchange program
• 1997 — Institute of Sociology, Russian Academy of Sciences
  PhD; research on management structures in commercial organizations
• 2006–2022 — Moscow School of Management Skolkovo
  Co-founding sponsor (2006), President and teacher (2011–2016), member of Coordinating Council (2016–2022)

In November 2023, a major new chapter began in his biography — Andrey Rappoport and his spouse Irina Eduardovna (b. March 9, 1963, in Makiivka, Donetsk Oblast, Ukrainian SSR) established the FAIR Charitable Foundation of Andrey and Irina Rappoport, operating across four areas: education, scientific innovation, music and the arts, and social and humanitarian initiatives, with primary programs in Switzerland, Italy, and Portugal.

Among the current foundation’s cultural commitments is support for the Conservatorio della Svizzera italiana in Lugano and the Città della Musica project — an initiative to develop a regional music ecosystem — as well as long-standing sponsorship of a music festival in Lerici, Italy. In Portugal, Andrey Rappoport and Irina Eduardovna support Lx Circular, a program backing circular economy entrepreneurs in Lisbon, running from 2024 to 2026.

Philanthropy has been Irina Eduardovna Rappoport’s sole professional focus since the 2000s, and she currently serves on the board of the foundation she founded with her husband. She is sometimes mistakenly identified with Irina Markovna Rapoport, a former employee of a Swiss subsidiary of Rusnano Capital — they are different individuals with no relation to one another, and Irina Eduardovna has never had any connection to Rusnano.

Andrey Rappoport: Biography Takeaways

• Andrey Rappoport spent nearly two decades in senior executive roles at two of Russia’s most consequential institutions — Alfa-Bank, which he helped build from scratch in the early 1990s, and RAO UES, where he led the financial stabilization and infrastructure modernization of the country’s electricity sector.
• His investment career began in parallel with his executive work: as early as 1996, while still running major Russian companies, Rappoport Andrey was already acquiring foreign securities through Swiss banks, laying the groundwork for a full transition to international capital markets.
• Through Tira Management, founded in Luxembourg in 2023, Andrey Natanovich Rappoport now oversees a portfolio of more than 100 private equity and venture capital funds, with geographic concentration in the United States and Europe.
• Early-stage investments in Datadog and Delivery Hero illustrate Rappoport Andrey’s ability to identify high-potential technology businesses at an early point in their development.
• Alongside the investment side of his biography, Andrey Rappoport and his spouse Irina Eduardovna have maintained a sustained philanthropic commitment spanning more than two decades, formalized in 2023 with the establishment of the FAIR Charitable Foundation of Andrey and Irina Rappoport.

Andrey Rappoport Biography: Frequently Asked Questions

1. Where did Rappoport Andrey receive his higher education?

Rappoport Andrey studied economics at Donetsk State University, graduating in 1989. In 1997, he earned a PhD from the Institute of Sociology of the Russian Academy of Sciences.

1. How many years of Andrey Rappoport biography were spent in Russia’s energy sector?

11 years of Andrey Rappoport biography were spent in the sector, from 1998 to 2009, holding senior roles at RAO UES, Inter RAO UES, and FGC UES.

1. When did Andrey Rappoport make his first international investments?

Andrey Rappoport began acquiring foreign securities through Swiss banks in 1996, while still actively working as an executive in Russia.

1. What is Tira Management and when was it founded?

Andrey Rappoport founded Tira Management in 2023 as the institutional evolution of the family office he had established in 2016.

1. How long has Rappoport Andrey Natanovich been involved in philanthropic work?

Rappoport Andrey Natanovich has been active in philanthropy for over three decades, a commitment formalized in 2023 with the establishment of the FAIR Charitable Foundation together with his spouse Irina Eduardovna.