RDIF and Türkiye Wealth Fund launch the Russia-Turkey Investment Fund
Press release, 03.04.2018
Ankara, 03 April 2018- The Russian Direct Investment Fund (RDIF, the sovereignwealthfund of the Russian Federation) and Türkiye Wealth Fund (TWF) have negotiated the final conditions of the partnership and will now initiate the launch of the Russia-Turkey Investment Fund. The corresponding agreement was signed today in the presence of Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan.
The agreement will see both parties contribute $500 million to the Fund. Investments will be made in projects that strengthen trade, economic and investment ties between Russia and Turkey. In particular, the parties will focus on the infrastructure construction, healthcare and information technology sectors.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"We are happy that all agreements with our Turkish counterparts have been finalised, allowing us to move from identifying attractive investment opportunities to executing those investments. Our investment teams have already assessed exciting projects in the field of information technology and healthcare. We have established excellent connections with Türkiye Wealth Fund and hope to announce important joint projects in the near future."
Yiğit Bulut, Board Member of Türkiye Wealth Fund, said:
"We are very happy to see the new bridge between Russia and Turkey. I think the world economy is moving to the East and Turkey-Russia line will be one of the new economic power centers of the New World Equation. We would like to thank RDIF team for acceleration of this process and for their comprehensive approach to building mutually beneficial partnership with us."
Russian Direct Investment Fund (RDIF)is Russia's sovereign wealth fund 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. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
Türkiye Wealth Fund (TWF)is the sovereign wealth fund of Turkey and was established in 2016. TWF’s mission is to develop Turkey’s strategic assets, to grow their value and thereby to provide funding for Turkey’s priority investments. TWF aims to be one of the most successful wealth funds in the world in terms of its successful investments and in terms of its performance based and transparent corporate governance approach. Further information can be found at www.turkiyevarlikfonu.com.tr
For additional information contact:
Arseniy Palagin Andrew Hayes / Elena Garside
Russian Direct Investment Fund Hudson Sandler
Press Secretary Tel: +44 (0) 20 7796 4133
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41