RDIF and TWF have finalized the creation of the Russia-Turkey Investment Fund

Press release, 08.04.2019

Moscow, April 8, 2019 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and Turkey Wealth Fund (TWF) announce the creation and 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.

At the initial stage the investments in the funds’ projects will amount to €200mn. The total size of the Russia-Turkey Investment Fund is €900mn. 

The parties have started developing joint projects with a special focus on the technology, healthcare and infrastructure sectors. 

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:

“We are pleased to announce the creation and launch of the Russia-Turkey Investment Fund as well as the start of work on joint projects with our Turkish colleagues. Today the healthcare, infrastructure and technology sectors are some of the most attractive for investment and development of our domesticeconomies. Once implemented, the projects will significantly improve living standardsand will substantially increase the volume and efficiency ofbusiness engagement between our countries.”

Zafer Sönmez, Managing Director and Member of the Board of Turkey Wealth Fund, said: 

“This is an important milestone for TWF and we believe initiating investments through RTIF in focused sectors will cement the relationship of both sovereign investment funds and further strengthen the relationship between Turkey and Russia. In line with TWF’s revised mandate, RTIF will play a crucial role in promoting a culture of co-investment, attracting top quality FDI, as well as facilitating a diverse business environment for both countries, catalyzing opportunities for the regional growth of Turkish and Russian companies.”

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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. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than 1.5 trillion rubles and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 700,000 people, and generate revenues which equate to more than 5% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than 40 billion dollars. Further information can be found at www.rdif.ru

Turkey Wealth Fund (TWF) is the sovereign wealth fund of Turkey, established in 2016 with the main objectives of increasing the value of the state-owned assets in its portfolio and contributing in Turkey’s strategic investments. TWF’s portfolio is composed of 14 companies including Turkish Airlines, Ziraat Bankası, Halkbank, Borsa Istanbul, PTT, BOTAŞ, TPAO and Türksat in 7 strategic sectors, 2 licences and real estates. Acting as the equity solutions provider of Turkey, TWF aims to create further value to its portfolio companies, invest in the strategic projects of Turkey, contribute to transforming Turkish companies into regional and global leaders and be the talent pool of Turkey going forward. Further information can be found atwww.tvf.com.tr/EN

For additional information contact:

 

Arseniy Palagin                                     Maria Shiryaevskaya / Andrew Leach
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
E-mail: arseniy.palagin@rdif.ru

Esra Eğilmez
Turkey Wealth Fund
Corporate Communications Director
Tel: +90 212 371 22 00
E-mail: esra.egilmez@tvf.com.tr