Putin Appoints Icon’s Dmitriev to Manage Russia Investments

Bloomberg, 18.05.2011
Russia’s government picked Icon Private Equity President Kirill Dmitriev to manage a fund created to help attract investment.

Prime Minister Vladimir Putin, who is seeking investors to join the fund, today introduced Dmitriev to representatives from Goldman Sachs Group Inc. (GS), Blackstone Group LP (BX), Abu Dhabi Investment Authority, and others from the U.S., Europe, Asia and the Middle East, Dmitry Peskov, the premier’s spokesman, said by phone today.

President Dmitry Medvedev, seeking to wean the economy off its dependence on the energy industry, in January announced the plan to set up a $10 billion fund by June 1. Russia wants to use the fund to attract $90 billion of investment in 5 years, Vedomosti said earlier this month.
Putin as premier is the head of the supervisory board at state development bank Vnesheconombank, which is in charge of setting up the fund. He met the bankers at the same time as Medvedev held his first news conference since becoming president in May 2008.

During the conference, Medvedev said he shared a strategy with Putin, who he called “like-minded,” adding that they aren’t always in agreement about details. One of the differences is in their perception of modernization pace, Medvedev said.

Dmitriev, 36, was a founder at the $1 billion Icon. The Harvard MBA graduate earlier headed Delta Private Equity Partners and worked at McKinsey & Co. and Goldman Sachs, Interfax said.