RDIF to partner with the Investment Corporation of Dubai

Press release, 15.10.2019

Abu Dhabi, October 15, 2019 - The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) announces a cooperation agreement with Investment Corporation of Dubai. The agreement was signed today on the sidelines of Russian President Vladimir Putin’s visit to UAE. 

The partners intend to consider and consummate mutually beneficial investment opportunities and to establish for that purpose a joint co-investment platform. Cooperation with Investment Corporation of Dubai is aimed at strengthening bilateral economic and investment ties between Russia and the UAE.

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

“RDIF is pleased to announce a partnership with Dubai's leading investment corporation aimed at active development of relations with the UAE business community. I am sure that we will be able to find many attractive investment opportunities, we plan to start cooperating in the near future”.

His Excellency Mohammed Ibrahim AlShaibani, Executive Director and CEO of ICD, said:

“Today’s agreement is a significant first step towards exploring the potential benefits and growth that are realizable on both sides. We are enthused by the opportunities that lie ahead, and look forward to seeing them come to fruition in the near future”. 

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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 RUB1.5 tn and covering 95% of the regions of the Russian Federation. RDIF’s portfolio of companies employs more than 800,000 people and generates revenues which equate to over 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru

Investment Corporation of Dubai (ICD) is the principal investment arm of the Government of Dubai. It was established in May 2006 and mandated with the consolidation and management of the Government of Dubai’s portfolio of commercial companies and investments. ICD was also assigned the provision of strategic oversight to portfolio companies through the development and implementation of effective corporate governance policies, and sound investment strategies. ICD is focused on maximizing stakeholder value for the longterm benefit of the Emirate. ICD’s portfolio comprises some of Dubai’s most recognized companies, and represents a cross-section of vital economic sectors that the Government of Dubai has deemed strategic for the continued development and growth of the Emirate. The sectors include financial services, transportation, energy and industry, real estate and leisure, retail, and other holdings. In addition, ICD has embarked on a disciplined and sustainable strategy of global investments, which are synergistic with its existing portfolio, to extend Dubai’s presence and expertise into international markets. Further information can be found at  www.icd.gov.ae

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