FINANCIAL NEWS

Kuwait partners with RDIF to invest USD500m in Russia

23 Jun 2012

(MENAFN) Kuwait Investment Authority (KIA) inked recently a co-investment agreement with the Russian Direct Investment Fund (RDIF), opening doors for Kuwaiti investments in Russia’s various sectors, Arabian Business reported.

The deal will see the oil-rich Gulf partnering with RDIF in as much as USD500 million worth of investments into Russian firms.

The deal was announced by Bader Mohammed Al-Saad, CEO and managing director, KIA, in a meeting with President Vladimir Putin.

RDIF was set up in 2011 to encourage foreign investors to match state investments in Russian assets.

Kirill Dmitriev, CEO of the RDIF said that the partnership deal with KIA significantly increases the funds the RDIF can invest in the Russian economy.

The RDIF also said in a statement it had launched a pre-IPO investment programme with Goldman Sachs, Blackrock and Franklin Templeton aimed at firms seeking to float on Russia’s MICEX-RTS index.

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