RDIF and Mumtalakat to strengthen economic and investment cooperation between Bahrain and Russia, Mumtalakat CEO to join International Advisory Board of RDIF
Press release, 29.04.2014
Moscow, April 29, 2014 –The Russian Direct Investment Fund (RDIF) and Mumtalakat, the investment arm of the Kingdom of Bahrain, today signed a Memorandum of Understanding to promote investment cooperation between Russia and Bahrain.
The Memorandum of Understanding promotes the exchange of information and expertise in the sectors and areas of common interest for both entities and sets the overall parameters for identification and cooperation on mutually beneficial prospective investment and co-investment opportunities in Russia and Bahrain.
Since its inception in 2006, Mumtalakat has operated with a strong emphasis on commercial discipline and has maintained a focus on securing sustainable returns and generating wealth for future generations. Mumtalakat currently holds a stake in over 35 commercial enterprises which span a variety of sectors including aluminium production, financial services, telecommunications, real estate, tourism, transportation and food production.
RDIF is also pleased to announce that Mr. Mahmood Hashim Al Kooheji, CEO of Mumatalakat, the investment arm of the government of Bahrain, will join the International Advisory Board of RDIF. As a member of the Board that brings together a number of leaders from top private equity firms and sovereign wealth funds from the Middle East, Asia, Europe, and global markets, Mr. Al Kooheji will help to formulate its strategic direction and ongoing business development.
Mr. Al Kooheji brings a wealth of experience with over twenty five years in leading private public partnership initiatives and world-class financial and business entities.
Kirill Dmitriev, CEO of RDIF, said:
"We are delighted to partner with Mumtalakat, which is recognised by the international community for its continued commitment to transparency and corporate governance. Led by a very capable team, Mumtalakat has an excellent track record and a wealth of in-house expertise which, combined with that of our own investment team, will be invaluable when evaluating joint investments. We are confident that this new partnership will act as a catalyst for strong growth in investment flows and strengthen economic cooperation between our two countries."
Mr. Mahmood Hashim Al Kooheji, CEO of Mumtalakat, said:
"Mumtalakat is continuously looking to cooperate with established international peers to explore mutually beneficial investment opportunities in Bahrain and the GCC as well as internationally in sectors that create synergy and diversity within our portfolio and contribute to growing the wealth of Bahrain. The MoU with RDIF is a sure step towards exploring opportunities for growth across both economies and exchanging information, knowledge and expertise in the sectors and areas of common interest that could lead to mutually beneficial investment opportunities."
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Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity co-investments primarily in Russia alongside reputable international financial and strategic investors. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at www.rdif.ru
Mumtalakat is the investment company for the Kingdom of Bahrain, and was established in June 2006 by Royal Decree as an independent holding company for the government of Bahrain’s strategic non-oil and gas related assets. Mumtalakat was created to align and implement the execution of the government’s initiatives to pursue value-enhancing opportunities, improve transparency and help achieve operational excellence for its state-owned assets. Further information at: www.bmhc.bh
Russian Direct Investment Fund
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