We study critical and universal behaviors of unitary invariant non-gau
ssian random matrix ensembles within the framework of the large-N reno
rmalization group. For a simple double-well model we find an unstable
fixed point and a stable inverse-gaussian fixed point. The former is i
dentified as the critical point of single/double-arc phase transition
with a discontinuity of the third derivative of the free energy. The l
atter signifies a novel universality of large-N correlators other than
the usual single are type. This phase structure is consistent with th
e universality classification of two-level correlators for multiple-ar
c models by Ambjorn and Akemann. We also establish the stability of th
e gaussian fixed point in the multi-coupling model. (C) 1997 Elsevier
Science B.V.