Plans to increase inbound Russian FDI have doubled since creation of Russian Direct Investment Fund, President Vladimir Putin states in Petersburg address
Russia, St. Petersburg, 21 June 2012 – In his address opening the plenary session of the St. Petersburg International Economic Forum today, Russian President Vladimir Putin emphasized the role of the Russian Direct Investment Fund (RDIF) in attracting foreign investment to Russia and highlighted the strong results of the fund in its first year of operation.
“Since the creation of RDIF, the number of long-term investors planning to increase their acquisition activity in Russia has nearly doubled,” Mr. Putin said in a speech to the participants of the forum.
Summing up the achievements of RDIF during its first year of operations, Mr. Putin said: “The first deals were concluded and totaled $1 bln, of which foreign investors contributed $800 mln. It is important to note the wide geographic range of the co-investors. Virtually every center of global capital is now working with the RDIF: the Middle East, China, Europe, the United States and Australia. The Fund has quickly formed an International Advisory Board composed of leading representatives of the international investment community.”
Members of the RDIF International Advisory Board, who are heads of the world’s largest private equity and sovereign wealth funds, will meet with President Putin later today at the St. Petersburg International Economic Forum.
Notes for Editors:
The following members of the International Advisory Board of the RDIF are taking part in the St. Petersburg International Economic Forum:
• Lou Jiwei, Chairman and Chief Executive Officer, China Investment Corporation
• Bader Mohammed Al-Sa’ad, Managing Director, Kuwait Investment Authority
• Chong-Suk Choi, President and Chief Executive Officer, Korea Investment Corporation
• Leon Black, Chairman and Chief Executive Officer, Apollo Global Management
• David Bonderman, Co-founder and Managing Partner, TPG
• Michael Phillips, Partner, Apax Partners
• Kurt Bjorklund, Co-managing Partner, Permira
• Joseph Schull, Head of European Operations, Warburg Pincus
Two members of the RDIF’s Supervisory Board are also participating in the Forum today: Laurent Vigier, Director of European and International Affairs at Caisse des Depots and Harvard Business School Professor Josh Lerner.
Contacts for additional information:
+7 (985) 797-37-90
Russian Direct Investment Fund (RDIF), established in June 2011, is to be capitalized with $10 billion in Russian government funds to make equity investments that generate strong returns. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. Kirill Dmitriev has been Chief Executive Officer of the RDIF since its inception. Additional information is available at www.rdif.ru.