Russian Direct Investment Fund announces International Advisory Board
Sochi, 16 September 2011 – The Russian Direct Investment Fund (RDIF), established in 2011 and expected to be capitalized with $10 billion by the Russian government over the next five years, today announced the composition of its International Advisory Board. The members of the Board are:
Bader Mohammad Al-Sa’ad - Managing Director, Kuwait Investment AuthorityKurt Bjorklund - Co-managing Partner, PermiraLeon Black - Chairman and Chief Executive Officer, Apollo Global ManagementDavid Bonderman - Managing Partner and Co-Founder, TPGChong-Suk Choi - Chairman and Chief Executive Officer, Korea Investment CorporationRichard M. Daley, Mayor of Chicago (1989-2011)Martin Halusa - Chief Executive Officer, Apax PartnersLou Jiwei - Chairman and Chief Executive Officer, China Investment CorporationJoseph Schull - Head of European Operations, Warburg PincusStephen Schwarzman - Chairman and Chief Executive Officer, The Blackstone Group
Kirill Dmitriev, Chief Executive Officer of the Russian Direct Investment Fund, said:
“The composition of the board serves as validation of the tremendous investment opportunities available in Russia, and RDIF’s leading role as a professional partner for the world’s leading funds seeking investment opportunities here.”
The leading global investors joining the International Advisory Board have positively assessed the investment opportunities available in Russia and the outlook for RDIF.
Lou Jiwei said:
“RDIF is a great platform to co-invest with, and we look forward to working closely with the Fund for more mutually beneficial opportunities in Russia.”
David Bonderman commented:
"We believe there are many attractive investment opportunities in Russia -- the RDIF will provide the strong and experienced local partnership needed for investors to realize those opportunities.”
Bader Mohammad Al-Sa’ad commented:
“The way the RDIF is structured will definitely change the investment climate in Russia.”
Leon Black commented:
“Russia has strong fundamentals that will continue to fuel its growth trajectory and offer attractive investment opportunities. We believe the Russia Direct Investment Fund will help further align U.S. and Russian objectives in terms of identifying paths toward partnership in the private sector.”
Kurt Bjorklund commented:
"The Russian market offers good long-term investment opportunities in a growing economy. The RDIF is a creative way to offer foreign investors alignment and access to this attractive market.”
Martin Halusa commented:
“We share many of the goals of the Russian Direct Investment Fund in terms of helping to build and strengthen companies by investing long-term capital and expertise. Russia is a huge market with exciting growth prospects and we look forward to partnering with the RDIF to fulfill these goals in the years to come.”
Joseph Schull commented:
"Russia is an emerging market with potential for rapid growth across multiple sectors. There is a recognition within the country that a more diversified economy is needed for stable long term growth. RDIF has the potential to play a meaningful role here and in attracting foreign direct investment to take advantage of the opportunities that the market offers."
Stephen Schwarzman commented:
“It’s always good to have friends when you are going to a place that you are not as familiar with.”
About the Russian Direct Investment Fund (RDIF)
The Russian Direct Investment Fund was established in June 2011. RDIF will be capitalized with approximately USD 10 billion in Russian government funds over the next five years and is charged with making equity investments that generate strong returns, primarily in Russia. In each investment it makes, RDIF is required to secure co-investment that at minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. Additional information is available at www.rdif.ru.
INTERNATIONAL ADVISORY BOARD OF THE RUSSIAN DIRECT INVESTMENT FUND (RDIF)
BADER MOHAMMAD AL-SA’AD
Managing Director, Kuwait Investment Authority
Mr. Sa'ad has had extensive experience in investments and the financial sector over the past thirty years. Prior to his appointment as the Managing Director of KIA, Mr. Al Sa'ad was the Managing Director of one of the leading investment companies in Kuwait, The Kuwait Financial Center, known as Markaz. He also has extensive experience in various positions at the Bank of Kuwait and the Middle East (BKME). Mr. Al Sa'ad is also a member of the Board of Directors of Kuwait Petroleum Corporation.
Mr. Al Sa'ad is a graduate of Kuwait University with a major in Accounting.
Co-managing Partner, Permira
Mr. Bjorklund joined Permira in 1996, became a Partner in 2001 and between 2003 and 2008, he was responsible for the Nordic office. Kurt has been involved in a number of transactions including AU System, Inmarsat and TDC.
Prior to joining Permira, Kurt worked for the Boston Consulting Group in Stockholm and prior to that for an IT reseller in Finland.
Kurt has a degree in Economics from SSEBA, Finland, and an MBA from INSEAD, France. He also completed graduate studies at the Rensselaer Polytechnic Institute in New York.
Chairman and Chief Executive Officer, Apollo Global Management
Mr. Black founded Apollo in 1990 to manage investment capital on behalf of a group of institutional investors, focusing on corporate restructuring, leveraged buyouts, and taking minority positions in growth-oriented companies. From 1977 to 1990, Mr. Black worked at Drexel Burnham Lambert Inc., where he served as head of the Mergers & Acquisitions Group and co-head of the Corporate Finance Department.
Mr. Black is a trustee of The Museum of Modern Art, Mt. Sinai Hospital, The Metropolitan Museum of Art, Prep for Prep, and The Asia Society. He is also a member of The Council on Foreign Relations and The Partnership for New York City. He graduated summa cum laude from Dartmouth College and received an MBA from Harvard Business School.
Managing Partner, TPG
David Bonderman co-founded TPG in 1992. Prior to forming TPG, Mr. Bonderman served from 1983 to 1991 as COO of Robert M. Bass Group.
Mr. Bonderman currently serves as Member of the Board of Directors of General Motors Inc; Chairman of the Board of Directors of Ryanair Holdings PLC; and as a director of Armstrong Worldwide Industries, Inc.; CoStar Group, Inc.; Caesars Entertainment Corporation and Energy Future Holdings Corporation. He also served as a director of Gemalto N.V. (2006-2010), Washington Mutual, Inc. (April 2008-December 2008), Burger King Holdings, Inc. (2002-2008), Gemplus International SA (predecessor to Gemalto) (2000-2006), and Ducati Motor Holding S.p.A. (1996-2006).
Mr. Bonderman holds a BA from the University of Washington and a JD from Harvard.
Chairman and Chief Executive Officer, Korea Investment Corporation
Mr. Chong-Suk Choi boasts 35 years of experience in international finance. He was recently Executive Advisor for Hana Bank, one of the top banks in Korea. At Hana Bank, he was also President & COO of the Financial Markets & Treasury Banking Unit and Deputy President & Group Head of the Financial Markets Group. Furthermore, he was President & CEO of Hana Bank (China) Co., Ltd. Other important positions he held include Chairman of Allianz Global Investors Korea, CFO and Senior EVP for Strategic Planning of Hana Bank and others. Mr. Choi held posts at the Korea Exchange Bank from 1976 to 1992.
Mr. Choi received his MBA from Columbia University and his bachelor’s degree from Hankuk University of Foreign Studies, Seoul.
Chief Executive Officer, Apax Partners
Martin Halusa co-founded Apax Partners in Germany in 1990 as Managing Director. His investment experience has been primarily in telecommunications and service industries.
He began his career at The Boston Consulting Group (BCG) in Germany and left as a Partner and Vice President of BCG worldwide in 1986. He joined Daniel Swarovski Corporation, Austria's largest private industrial company, first as President of Swarovski Inc (US) and later as the Director of International Holding in Zurich.
A graduate of Georgetown University, Mr. Halusa received his MBA from the Harvard Business School and his PhD in Economics from the Leopold-Franzens University in Innsbruck.
Chairman and Chief Executive Officer, China Investment Corporation
Prior to joining to lead China Investment Corporation, Mr. Lou Jiwei served as Deputy Secretary General (ministerial level) of the State Council of the People’s Republic of China. Previously he served as Executive Deputy Minister of Finance, Deputy Governor of Guizhou Province, and Director General of the Macroeconomic Control Department of the State Commission for Restructuring the Economic Systems.
Mr. Lou was born in 1950. He received a masters degree in economics from the Chinese Academy of Social Sciences and a bachelor's degree from Tsinghua University.
Head of European Operations, Warburg Pincus
Joseph C. Schull joined Warburg Pincus in 1998 and has been responsible for TMT investments in Europe, as well as its investment activities in emerging Europe. He holds a B.A. and M.A. from McGill University, Canada where he studied politics, philosophy and economics. Mr. Schull also received a D.Phil from Oxford University, where he was University Lecturer from 1990 to 1991.
Prior to joining Warburg Pincus, he was deputy director of the international affairs program at the Ford Foundation. Mr. Schull has been involved in Warburg Pincus investments in broadcasting, telecommunications, cable television, information services, Internet, education and pharmaceuticals.
Chairman and Chief Executive Officer, Blackstone Group
Mr. Schwarzman co-founded Blackstone and has been involved in all phases of the firm’s development since its establishment in 1985.
Mr. Schwarzman began his career at Lehman Brothers, where he was elected Managing Director in 1978. He served as Chairman of the firm’s M&A Committee in 1983 and 1984.
Mr. Schwarzman is a member of The Council on Foreign Relations and The Business Council. He is on the board of The New York Public Library and The Asia Society. He serves on the New York City Partnership Board of Directors and the Advisory Board of the School of Economics and Management, Tsinghua University, Beijing.
Mr. Schwarzman holds a BA from Yale University and an MBA from Harvard Business School.