NIIF and RDIF to establish a $1bn Russian Indian Investment Fund
Press release, 15.10.2016
Delhi, October 15, 2016 – The Russian Direct Investment Fund (RDIF) and National Investment and Infrastructure Fund (NIIF), established by the Government of India with the support of RDIF, have agreed to set up a $1 billion Russia-India Investment Fund. The partners will work together to identify attractive investment opportunities that promote economic, trade and investment co-operation between the two countries. Under the agreement, RDIF and NIIF will each invest up to $500 million into the new fund. The signing ceremony took place today in the presence of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"The Russia-India Investment Fund will support attractive investment opportunities and growth of Russian business activity in India. Our joint investments will also help Russian businesses to significantly expand their presence in one of the largest markets in the world."
Russian Direct Investment Fund (RDIF)was established in 2011 to make equity co-investments alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found atwww.rdif.ru
The National Investment and Infrastructure Fund (NIIF)The Government of India has created the NIIF to attract equity investments from domestic and international sources into the infrastructure sector in commercially viable projects, both greenfield and brownfield, including stalled projects. It has been registered as a Category II Alternate Investment Fund under Securities and Exchange Board of India regulations with a total corpus of Rs. 40,000 Crores, 49% of which will be contributed by Government of India. Details may be seen at www.niifindia.org
For additional information contact:
Russian Direct Investment Fund
Director of External Communications
Tel: +7 495 644 34 14, ext. 2141
Mobile: +7 964 726 17 73
Andrew Hayes / Yulianna Vilkos
Tel: +44 (0) 20 7796 4133