Denatured whey protein concentrate was fractionated by centrifugation to study the effect of its different components (sedimentable aggregates, non-sedimentable component, and diffusible component) on rennet-induced coagulation of milk and gel contraction capacity. Milk coagulation properties were characterized by optical density measurement and dynamic rheometry. The contraction kinetics of the gel during cooking was also characterized. The diffusible component of denatured whey protein concentrate showed no significant effect on coagulation or contraction parameters. Sedimentable aggregates negatively influenced the kinetics of rennet gel formation, as measured by rheology; these aggregates also reduced the contraction capacity of the gel. The non-sedimentable component negatively influenced milk coagulation properties, as measured with both optical and rheological methods, and decreased the contraction capacity of the gel. The results suggest that, beyond the effect of sedimentable whey protein aggregates, soluble proteinaceous complexes (non-sedimentable and non-diffusible) could interact with renneted casein micelles and limit gel formation and contraction.