Russian Direct Investment Fund Announces Supervisory Board

Press release, 16.02.2012

Moscow, 16 February 2012 – The Russian Direct Investment Fund (RDIF), Russia’s $10 billion sovereign private equity fund, today announced the composition of its Supervisory Board:


Alexei V. Ulyukaev - First Deputy Chairman of the Central Bank of the Russian Federation (Chairman)
Sergei B. Ivanov - Chief of Staff to the President of Russia
Elvira S. Nabiullina - Minister of Economic Development of the Russian Federation
Vladimir A. Dmitriev - Chairman, Vnesheconombank
Kirill A. Dmitriev - Chief Executive Officer, Russian Direct Investment Fund
Josh Lerner - Jacob H. Schiff Professor, Harvard Business School
Laurent Vigier - Director of European and International Affairs, Caisse des D?p?ts Group

Kirill A. Dmitriev said:

“This Supervisory Board brings together some of the most respected figures from government, business and academia in Russia and internationally. It is an honor to welcome such distinguished individuals as Alexei Ulyukaev, Sergei Ivanov, Elvira Nabiullina and Vladimir Dmitriev, as well as our international members Josh Lerner and Laurent Vigier. The Board will play a key role in guiding the strategic direction of the Fund and ensuring we consistently adhere to the highest standards of corporate governance. Our management and governance structures are now fully in place, we have made our first investment and we have tremendous momentum as we plan further investments and bring long-term direct investment into the Russian economy in the coming months and years.”

The Board will meet quarterly and provide strategic direction and guidance to the Fund. Members of RDIF’s International Advisory Board will participate in all Supervisory Board committees, as an additional measure to ensure transparency of the Fund.

About the Russian Direct Investment Fund (RDIF)
The Russian Direct Investment Fund was established in June 2011. RDIF will be capitalized with 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. In September 2011 the International Advisory Board of RDIF was appointed, including the heads of the Chinese, Kuwaiti and Korean sovereign wealth funds as well as founders and CEOs of leading private equity firms Apollo, Blackstone, TPG, Apax, Warburg Pincus and Permira. Additional information is available at www.rdif.ru.

For additional informational, contact:

Quinn Martin
Tel +7 495 797 3790
Mob +7 985 361 0369
quinn@frontierpr.com

BRIEF BIOGRAPHIES OF THE MEMBERS OF THE RDIF SUPERVISORY BOARD

Alexei V. Ulyukaev, First Deputy Chairman of the Central Bank of the Russian Federation (Chairman)
Alexei V. Ulyukaev was born in Moscow on March 23, 1956. In 1979 he graduated from the economics faculty of Moscow State University and in 1982 completed a higher degree in economics at Moscow State University. From 1982-1988 he taught at the Moscow Engineering and Construction Institute and in 1988 completed his Ph.D. at Pierre-Mend?s France University.
From 1991-1994 Mr. Ulyukaev worked as an economic advisor to the Russian government, including as Assistant to the First Deputy Prime Minister. In 1994 he was appointed deputy head of the Institute for the Economy in Transition.
From 2000-2004 Mr. Ulyukaev served as Deputy Finance Minister. Since 2004 he has been a member of the board of directors and First Deputy Chairman of the Central Bank of Russia, where he heads the committee on monetary policy. In addition, Mr. Ulyukaev serves as a member of the supervisory boards of Sberbank and VTB, Russia's two largest banks.

Sergei B. Ivanov, Chief of Staff to the President of Russia
Sergei B. Ivanov was born on January 31, 1953 in the city of Leningrad. In 1975 he completed a degree in translation at the Philology Faculty of Leningrad State University.
Mr. Ivanov has been employed by the Government of the Russian Federation since March 2001. From 2001-2005 he served as Minister of Defense. Beginning on November 14, 2005 he combined the post of Minister of Defense with that of Deputy Prime Minister of the Russian Federation. On February 16, 2007 he was appointed First Deputy Prime Minister of the Russian Federation.
Since December 22, 2011 Mr. Ivanov has led the presidential administration as Chief of Staff to the President of the Russian Federation.

Elvira S. Nabiullina, Minister of Economic Development of the Russian Federation
Elvira S. Nabiullina was born on October 29, 1963. In 1886 she graduated with a degree in economics from Moscow State University.
From 1994 to 2000 Ms. Nabiullina held increasingly senior positions in the Russian Government, beginning as deputy head of a department within the Economy Ministry and culminating as First Deputy Minister of Economic Development and Trade.
From 2003-2005 Ms. Nabiullina served as president of the Center for Strategic Research, a leading Moscow-based think-tank. In October 2005 Ms. Nabiullina was appointed head of the Advisory Board responsible for preparing for Russia's chairmanship of the G8.
On September 24, 2007 Ms. Nabiullina was named Minister of Economic Development and Trade of the Russian Federation. She is a member of the Government's Commission on Economic Development and Integration as well a member of the Skolkovo Foundation Board.

Vladimir A. Dmitriev, Chairman, Vnesheconombank
Vladimir A. Dmitriev was born in Moscow and graduated from the Moscow Finance Institute in 1975, specializing in International Economic Relations. He worked in the USSR Ministry of Foreign Affairs from 1979 to 1986 and from 1987 to 1992, rising to the post of First Secretary. In the interval he was a researcher at the Institute of World Economics and International Relations of the USSR Academy of Sciences. Mr. Dmitriev occupied the post of Deputy Chief Executive Officer of the Russian Finance Ministry from 1993 until 1997, at which time he was appointed First Deputy Chairman of Vnesheconombank USSR. He became Chairman of that bank in 2004. Mr. Dmitriev has been Chairman of the state corporation “Bank for Development and Foreign Economic Affairs” (Vnesheconombank) since June 2007. For his outstanding contributions to the development of Russia’s financial and banking system, Mr. Dmitriev was awarded the Order “For Merits and Dedicated Service to the Country”, IV Degree, among several other awards.

Kirill A. Dmitriev, Chief Executive Officer, Russian Direct Investment Fund
Kirill Dmitriev is the Chief Executive Officer of the Russian Direct Investment Fund. Before being asked by the Russian government to run the fund, Mr. Dmitriev was President of Icon Private Equity, a leading private equity fund in the CIS with over $1 billion under management. Prior to establishing Icon, he was Co-Managing Partner of Delta Private Equity Partners, a leading private equity fund in Russia with over $500 million under management. Prior to joining Delta Private Equity in 2002, Mr. Dmitriev was Deputy General Director at IBS, the top Russian IT services provider. He also worked as an investment banker with Goldman Sachs in New York and as a consultant with McKinsey & Company in Los Angeles, Moscow and Prague. Mr. Dmitriev is a Young Global Leader of the World Economic Forum in Davos and past Chairman of the Russian Venture Capital and Private Equity Association. He holds a BA in Economics with Honors and Distinction from Stanford University and an MBA with High Distinction (Baker Scholar) from the Harvard Business School.

Josh Lerner, Jacob H. Schiff Professor of Investment Banking, Harvard Business School
Josh Lerner graduated from Yale College with a Special Divisional Major that combined physics with the history of technology. He worked for several years on issues concerning technological innovation and public policy, and then earned a Ph.D. from Harvard's Economics Department. Much of his research focuses on the structure and role of venture capital and private equity organizations. He founded, raised funding for, and organizes two groups at the National Bureau of Economic Research: the Entrepreneurship Working Group and the Innovation Policy and the Economy Group. Dr. Lerner is a Research Associate in the Corporate Finance and Productivity Programs and serves as a co-editor of the publication Innovation Policy and the Economy.

Laurent Vigier, Director of European and International Affairs, Caisse des D?p?ts Group
Laurent Vigier attended the Ecole Normale Sup?rieure and received a masters degree in political science. He is also a graduate of the Ecole Nationale d’Administration. In 2002, he joined the staff of the French Minister for European Affairs as a Senior Advisor, and in 2003 he became a Senior Advisor to the French President on G8 matters. In 2007, Mr. Vigier was appointed by the President of France as “contact point for negotiations” on the drafting of the 50th anniversary declaration of the Treaty of Rome. He has been the Director of European and International Affairs at the Caisse des D?p?ts and permanent representative of the Group to the European Institutions since July 2007, and a member of the Group’s management committee since January 2008.