RDIF joins International Forum of Sovereign Wealth Funds
Press release, 20.11.2014
CEO of RDIF, Kirill Dmitriev, represents Russia at IFSWF annual meeting in Doha (Qatar)
Doha, 20 November 2014 – The Russian Direct Investment Fund (RDIF) is representing Russia at the International Forum of Sovereign Wealth Funds (IFSWF) – an organisation that brings together the world’s leading sovereign wealth funds and government-run pension funds.
During the meeting, currently taking place in Doha (Qatar), senior executives of 28 sovereign wealth funds signed agreements and in doing so concluded the process of establishing the IFSWF as an independent professional association. Due to the growing influence of sovereign wealth funds on the global economy and their investment activities not being politically driven, the IFSWF became independent from the International Monetary Fund.
The meeting’s participants agreed to cooperate more actively on issues concerning global financial stability, prospects and potential challenges of managing state assets, and also possible steps to increase business transparency and to adhere to the Santiago Principles.
Kirill Dmitriev, CEO of RDIF, said:
“The International Forum of Sovereign Wealth Funds’ independence from the IMF has now been fully confirmed, which is significant given that investments made by participants in the forum are wholly focused on profitable opportunities and are not politically motivated.This format will enable us to support economic growth and global financial stability. Our involvement in the International Forum of Sovereign Wealth Funds helps RDIF to consolidate its partnership with the world’s leading funds.”
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Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity co-investments primarily in Russia alongside reputable international financial and strategic investors. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information is available at www.rdif.ru
The International Forum of Sovereign Wealth Funds (IFSWF) was established by the International Working Group of Sovereign Wealth Funds (IWG), which met in Kuwait City on April 5-6, 2009. IFSWF is a voluntary group of Sovereign Wealth Funds, which will meet, exchange views on issues of common interest, and facilitate an understanding of the Santiago Principles and SWF activities. Further information is available at www.ifswf.org
Russian Direct Investment Fund
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