RDIF and CIC Launch Russia-China Investment Fund
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RDIF and CIC Launch Russia-China Investment Fund

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English
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RDIF and CIC Launch Russia-China Investment Fund PR Newswire BEIJING, June 5, 2012 BEIJING, June 5, 2012 /PRNewswire/ -- In a signing ceremony in Beijing, Russian President Vladimir Putin and Chinese President Hu Jintao today witnessed the launch of the Russia-China Investment Fund (RCIF).

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RDIF and CIC Launch Russia-China Investment
Fund
PR Newswire
BEIJING, June 5, 2012
BEIJING
,
June 5, 2012
/PRNewswire/ --
In a signing ceremony in
Beijing
, Russian President Vladimir Putin and Chinese
President Hu Jintao today witnessed the launch of the Russia-China Investment
Fund (RCIF). The
$2-4 billion
fund, established jointly by the Russian Direct
Investment Fund (RDIF) and China Investment Corp (CIC), aims to generate
strong returns from equity investments in projects that take advantage of the
increasingly robust economic relationship between
Russia
and
China
.
Kirill Dmitriev, CEO of RDIF, and Lou Jiwei, Chairman and CEO of CIC signed a
Memorandum of Understanding on completing the establishment of the joint
fund and outlining the key principles for managing and investing the fund. In
remarks following the signing, Dmitriev and Lou emphasized that the fund's
focus is on delivering competitive returns for its investors:
"We are pleased to have the RCIF fully up and running. Our primary focus now
is on making investments that deliver strong risk-adjusted returns. We are
fortunate in that
Russia
and
China
are both big, rapidly growing markets that
offer a wealth of investment opportunities across a variety of sectors," Dmitriev
said, adding that he expects the fund's first investments to focus on sectors like
engineering, agriculture, forestry, transportation, and logistics to be announced
still this year. "Creation of the this fund underscores the transition in
Russia
-
China
relations from a trade partnership to an investment-technology-
trade partnership."
Lou Jiwei said: "We are delighted to work with RDIF. Together, we will seek to
tap investment opportunities through the new fund, in the quest for good
returns and win-win solutions."
More than 70 percent of the fund's capital will be invested in businesses and
projects across
Russia
and other Commonwealth of Independent States, and up
to 30 percent will focus on Chinese businesses and projects with Russian
involvement.
RDIF was set up by the Russian government last year as a
$10 billion
private
equity fund that co-invests with leading global investors in primarily Russian
companies. The fund has successfully attracted co-investment commitments
from leading global private equity players and sovereign wealth funds.
$1 billion
will be committed to the fund by CIC and its related parties. Another
$1 billion
shall be committed to the fund by RDIF. The fund will seek to raise
$1-
2 billion
of additional commitments from third-party investors.
* * *
Russia-China Investment Fund (RCIF),
a private equity fund established by
the Russian Direct Investment Fund and China Investment Corporation, seeks to
maximize investment returns for its investors. RCIF will focus its activities on
advancing bilateral economic, trade and investment relations between
Russia
and
China
.
Russian Direct Investment Fund (RDIF),
established in
June 2011
, is to be
capitalized with
$10 billion
in Russian government funds to make equity
investments that generate strong returns. 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 http://www.rdif.ru.
China Investment Corporation (CIC)
, founded in
September 2007
, is a
state-owned company incorporated in accordance with
China's
Company Law.
Headquartered in
Beijing
, CIC is established as an investment vehicle to
diversify
China's
foreign exchange holdings to achieve higher risk-adjusted
financial returns. It invests globally on a commercial basis across a diversified
range of asset classes including equities, fixed income, property, private equity
and commodities. Additional information is available at http://www.china-inv.cn.
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