RDIF has raised $30 bln from sovereign funds, expecting new investment from them - Dmitriev

Interfax, 24.07.2017

MOSCOW. July 24 (Interfax) - The Russian Direct Investment Fund (RDIF) have already raised $30 billion from foreign sovereign wealth funds and sees the potential to increase this amount, RDIF head Kirill Dmitriev said at a meeting with Russian President Vladimir Putin.

"It became much easier for us to work with our partners because these are the biggest sovereign funds in the world. We feel like we can carry out projects on a much wider scale and attract significantly more money," the RDIF chief said, responding to a question from the President about what RDIF received following its conversion into a sovereign fund.

"Now, for example, we have already raised $30 billion from leading sovereign funds. We believe that this figure can be raised," Dmitriev said. He also said that throughout the course of its operation, the fund and its partners have invested over 1 trillion rubles in various Russian companies with 100 billion rubles invested by RDIF and 900 billion rubles invested by the fund's partners. In the last 12 months 270 billion rubles were invested. The turnover of RDIF companies is already over 2 billion rubles and grew 13% year-on-year, Dmitriev said.

"Many of our investments are aimed at only new projects, starting from scratch. We also invest in, for example, PhosAgro (MOEX: PHOR), Russian Helicopters, in airports in Vladivostok and St Petersburg and in oil services company Eurasia, Dmitriev said. The chain of clinics, Mat I Ditya, another destination for RDIF investment, opened 20 new clinics and is now present in 15 regions, up from three regions.

RDIFis Russia's sovereign investment fund with reserved capital of $10 billion under management. Thefundwasfoundedin 2011.