RDIF and CITIC to establish Russia-China Investment Bank
Moscow, 8 May 2015 – The Russian Direct Investment Fund (RDIF) and CITIC Merchant, the merchant banking arm of leading Chinese financial group CITIC, have agreed to set up a Russia-China Investment Bank. The signing ceremony was held as part of the visit to Russia of the Chinese President Xi Jinping.
The institution will provide a wide range of investment banking services to strengthen economic cooperation between Russia and China, focusing on attracting Chinese capital into Russian companies, including:
- mergers and acquisitions advisory, with predominant focus on offering Chinese strategic and financial investors equity in Russian companies;
- debt finance, including debt financing from Chinese banks and placing Russian corporate bonds on Asian capital markets;
- capital markets services, including listings, primary and secondary placements on Asian capital markets.
As part of the project, the parties are also considering the possibility of launching a joint investment fund, which would operate separately from the Russia-China Investment Bank.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“On the back of strengthening economic ties between Russia and China there is a growing demand for specialist advice providing direct access to Chinese companies and financial institutions. We believe the Russia-China Investment Bank’s services will be in high demand across both nations. The Bank will also act as a driver for fostering further investment cooperation between our countries.”
Bin Huang, President of CITIC Merchant, stated:
“We are delighted to have the opportunity to work with RDIF through this new platform, in order to take a number of planned Russia-China projects through to successful transactions in a systematic fashion with the help of CITIC group entities and its partners.”
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 rdif.ru
CITIC Merchant (CM), headquartered in Hong Kong, is a wholesale merchant banking business unit of the CITIC Group. By leveraging on the CITIC Group’s corporate resources and financial network, CM is uniquely positioned to provide total solution in facilitating China's "going-out globally" policy and the recent "one-belt - one road" strategy. CM is principally engaged in the provision of corporate advisory service and related investment and asset management services on a cross-border and cross-market basis, with a focus on strategic industriesincluding global energy & resources acquisition, advanced technology, overseas EPC/ financing, and promotion of export of capital goods.
Russian Direct Investment Fund
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