Russia-Japan Investment Fund makes first investments of $170 mln

Reuters, 06.12.2017

MOSCOW, Dec 6 (Reuters) - The Russia-Japan Investment Fund (RJIF) has made its first investments in a number of Russia-focused deals, spending around 10 billion roubles ($170 million), the fund said on Wednesday.

It said RJIF had invested in the Russian oil pipeline monopoly Transneft.

It also joined theRussian Direct Investment Fund (RDIF) and leading funds of the Middle East, participating last month in the initial public offering of Russia’s En+ Group which manages businessman Oleg Deripaska’s aluminium and hydropower businesses.

The RJIF was launched by RDIF and Japan Bank for International Cooperation (JBIC).

It said the fund was currently in the process of closing a deal to invest in a leading Russian high-tech pharmaceutical company, which is a producer and distributor of pharmaceuticals.

“The investments are carried out jointly with a leading Japanese corporation. The transaction is expected to close by the end of 2017,” it said.