RDIF and FSI launch €1 billion Russian-Italian investment platform
Trieste, Italy, 26 November 2013– The Russian Direct Investment Fund (RDIF) and Fondo Strategico Italiano (FSI) today signed a landmark memorandum to establish a €1 billion Russian-Italian investment platform. The signing ceremony took place in Trieste in presence of the President of Russia Vladimir Putin and the Prime Minister of Italy Enrico Letta.
The two financial institutions will invest up to €500 million each primarily in companies and projects promoting the development of foreign trade and FDI between Italy and Russia.
Kirill Dmitriev, CEO of RDIF, said:
“The Russian-Italian investment platform has the significant potential to stimulate mutual trade and investment cooperation between Russia and Italy. Today there are 500 companies with Italian capital in Russia - 70 of them have established local production facilities. I’m sure we will see many more of such joint investment projects in both countries soon.”
Maurizio Tamagnini, CEO of FSI, said:
“Fondo Strategico Italiano and the Russian Direct Investment Fund have a lot in common. Like RDIF we were formed only two years ago and our key investment priorities include encouraging FDI and financing market based investments important to our home countries. We seek potential joint investments in sectors such as food, engineering, machinery and other technology-based industries. We look forward to deploying our collective knowledge and expertise to further boost the economic cooperation between Italy and Russia”.
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Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity co-investments primarily in the Russian Federation alongside reputable foreign financial and strategic investors. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at www.rdif.ru.
Fondo Strategico Italiano is a holding company whose strategic controlling shareholder is Cassa Depositi e Prestiti SpA. FSI invests in companies seeking to increase in size, improve operational efficiency and strengthen their competitive position in both domestic and in the international markets. FSI is a long-term minority investor with active governance, seeking market returns. Further information at www.fondostrategico.it.
Contacts for additional information:
Russian Direct Investment Fund
Director, Media Relations Department
М: +7 964 726 1773
Andrew Hayes/ Maria Ignatova/Elena Kuza/ Charlie Barker
Tel +44 (0) 20 7796 4133