RDIF and Caisse des Dépôts International launch Russia-France Investment Fund
Moscow, November 1, 2013 – The Russian Direct Investment Fund (RDIF) and Caisse des Dépôts International (CDC International) have launched, on the occasion of the Franco-Russian Intergovernmental Seminar, the Russia-France Investment Fund (RFIF) which was announced in the beginning of 2013. The establishment of the RFIF builds on the Memorandum of Understanding to develop cooperation between the two countries, signed by both parties in February 2013 in the presence of Russian President Vladimir Putin and the French President Francois Hollande.
RFIF will seek attractive investments across a broad range of sectors and asset classes, including but not limited to equity and debt securities, infrastructure and real estate in Russia and France with strong focus on opportunities promoting economic co-operation between the two countries and contributing to the growth and prosperity of both economies.
Kirill Dmitriev, CEO of RDIF, said:
“Direct investment between France and Russia increased 10% in 2012 and continues to grow in 2013. I am sure that the launch of the RFIF will accelerate this growth and take investment cooperation between Russia and France to a new level.”
Laurent Vigier, CEO of CDC International said:
“We are delighted to further promote a robust relationship with RDIF. Together, we will seek to tap investment opportunities through the Russia-France Investment Fund, drawing on our combined expertise to generate long-term value and strengthen the special French-Russian economic partnership”.
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Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity investments primarily in the Russian Federation. RDIF’s management company is a 100 per cent subsidiary of Vnesheconombank. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. Additional information is available at rdif.ru.
Caisse des Dépôts International (CDC International) is the Caisse des Dépôts investment corporation dedicated to partnerships with sovereign wealth funds and other long-term institutional investors. It was set up in 2008 to spearhead the Group's international development. CDC International has since developed an extensive network of long-term international business ventures (e.g. InfraMed and Marguerite funds, and Franco-Chinese fund). Caisse des Dépôts is a French public financial institution founded in 1816. It manages on behalf of the French state €560 billion of assets. It is a major global institutional investor with an active presence in more than 100 countries through its subsidiaries. Caisse des Dépôts financial soundness is reflected in its strong credit rating by Moody’s (Aa1), Standard & Poor’s (AA+), and Fitch (AA+). Additional information is available at www.caissedesdepots.fr
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