The Brunswick Group was founded in 1993 as an investment banking and advisory business focused on Emerging Markets. The group, which subsequently became Brunswick UBS Warburg, was acquired by UBS in 2004. Following the sale, the founding shareholders started Brunswick Rail, a railcar leasing business.

Mr Vladimir Lelekov joined Brunswick Rail in 2006 as CEO, during his tenure he attracted a group of high-profile investors such as International Finance Corporation, the European Bank of Reconstruction and Development, Sumitomo Corporation, and Macquarie Infrastructure, and scaled the business to become the largest railcar lessor in Russia with over 40,000 units of rolling stock.

In 2017 Mr. Lelekov led a management buyout of the business, and in 2021 completed a successful exit to a strategic acquirer. Following the sale, he founded Brunswick Capital.