RCIF and Vcanland to launch fund investing in tourism and senior living infrastructure

Press release, 20.05.2014

Shanghai, China, May 19, 2014 - Russia China Investment Fund (RCIF) has signed a Memorandum of Understanding (MOU) with Vcanland, a leading developer of tourism infrastructure and senior living communities in China. Together the parties will create a joint investment fund targeting USD 800 million (RMB 5 billion) with a focus on the tourism and senior living infrastructure in China and Russia. The fund will focus on opportunities in desirable tourism destinations across both countries, including Hainan in China and Lake Baikal, Vladivostok and the Sochi region in Russia, as well as opportunities in the senior living sector.
 
Kirill Dmitriev, Co-CEO of RCIF, said: 
"The Russian travel and tourism industry is expected to grow at 4% annually, and tourism between Russia and China will grow even faster. China is the second most popular destination for Russian tourists, whilst Russia is the third ranked destination of choice for the Chinese. About 3.3 million of Chinese tourists visited Russia in 2012 – a three times increase on 2007. We strongly believe that the robust momentum in bilateral tourism and need for senior housing will create enormous investment opportunities in the related sectors, generating attractive returns for investors.”
 
Li Defu, Chairman of Vcanland Senior Living Group, said: 
"Vcanland is among the pioneers of tourism related project development in China and had been focusing on senior living sector since 2009 and become a leader in providing senior friendly services and products in China. We are very excited about the opportunity to partner with RCIF to capture the favorite social and economic trends in both sectors and create significant values for both parties and future investors leveraging on both parties' unique resources and capabilities."
 
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Russia-China Investment Fund (RCIF) is a private equity fund investing in unique opportunities brought out by rapid development of economic cooperation, fast growing trade, and increasing purchasing power of the middle class in Russia, China and CIS countries. The Fund was created by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC). RCIF emphasizes cross-border transactions, as well as investment opportunities within the region across a broad range of sectors to facilitate the structural adjustment and the improvement of quality of those countries’ economies. Further information at www.rcif.com
 
Russian Direct Investment Fund (RDIF) was established in 2011 to make equity co-investments, primarily in Russia alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at www.rdif.ru
 
Vcanland - established in November, 1992 in Tianjin, Vcanland Holding Group has approximate RMB 20 billion(US$3.23billion) of total assets and 3,400 employees. Its business covered bio-science, real estate, senior living and health preservation industry, and also fund investment. With over 20 years of experience in new town construction and tourist real estate in Tianjin, Hainan and other regions, areas developed has accumulated to be 2,500,000 square meters. Further information at www.vcanland.com
 
Media contacts
Maria Medvedeva 
Russian Direct Investment Fund 
Director, Media Relations Department 
Tel: +7 495 644 34 14, ext. 2141 
Mobile: +7 964 726 17 73 
E-mail: mm@rdif.ru
 
Hudson Sandler
Andrew Hayes / Maria Ignatova / Elena Kuza 
Tel: +44 (0) 20 7796 4133