Elementum's board of directors is comprised of seasoned investment professionals committed to strong corporate governance and the company's success.

Richard Deitz

Richard Deitz, the Founder and President of VR Capital Group, is based in London and leads the investment activities of the firm. Prior to VR Capital Group’s founding in November 1998, Mr. Deitz was a founding Partner and Head of Fixed Income Trading at Moscow-based investment bank, Renaissance Capital Group. Previously, Mr. Deitz was a Managing Director at Credit Suisse responsible for the North American structured fixed income derivatives business (1990-1994) and for developing the firm’s Russian and Eastern European derivatives business (1994-1995). He began his career at The FirstBoston Corporation (now Credit Suisse) in New York in 1987. Mr. Deitz graduated from Yale University, magna cum laude, in June 1987, with dual B.A. degrees in history and economics with distinction in both majors.

Sergey Makhin

Sergey Makhin is a Senior Portfolio Manager and joined VR Capital Group in July 2014. He is based in London. Mr. Makhin has helped lead credit investments in the former Soviet Union as well as VR’s renewable energy investments. Mr. Makhin joined VR from Citigroup, where he worked from 2004 in Moscow, New York and London and held various positions including as a senior loan restructuring transactor and Emerging Markets credit strategist. He earned a degree in finance from the St. Petersburg University of Economics and Finance in 2003. Mr. Makhin also earned an M.B.A. from the London Business School in 2015.

Emile du Toit

Emile du Toit is the Chief Financial Officer and joined VR Capital Group in June 2007. Mr. du Toit is based in London and leads VR’s accounting, finance and audit functions. Prior to being named CFO in January 2014, Mr. du Toit served as Finance Manager. Mr. du Toit was a VR account manager at Admiral Administration in the Cayman Islands. Mr. du Toit also worked in South Africa at Nedbank (2003-2005) as a Group Financial Accountant and PriceWaterhouseCoopers in the audit group (1998-2002). He earned a Bachelor of Commerce (Honors) in accounting from the University of South Africa in 2005 and qualified as a CPA (SA) in 2006.