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About the Fund

The Russia-China Investment Fund (RCIF) is a private equity fund that aims to generate competitive returns by investing in projects that advance bilateral economic cooperation between Russia and China.

The Fund was established in June 2012 by two government-backed investment vehicles –
the Russian Direct Investment Fund and China Investment Corporation (CIC).

The fund received $2 billion in commitments from RDIF and CIC in equal share, with up to an additional $2 billion expected to be raised from international institutional investors.

RCIF focuses on projects that foster economic cooperation between the two nations and will invest at least 70% of its capital in Russia and CIS countries and up to 30% in China.

The Fund’s management team consists of top investment professionals with deep knowledge of the Russian and Chinese markets.

Kirill Dmitriev
Co-CEO, RCIF
CEO, RDIF

Kirill Dmitriev heads the Russian Direct Investment Fund - one of the world's leading sovereign funds with a reserved capital of $10 billion under management. RDIF was established in 2011 on the initiative of the President and the Chairman of the Government of the Russian Federation. In all transactions, RDIF acts as a co-investor alongside major international investors, playing the role of a catalyst in attracting direct investment into Russia. RDIF has successfully invested with foreign partners in more than 70 projects totaling more than 1.4 trillion rubles and covering 95% of the regions of the Russian Federation. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries totaling more than $40 billion.

Prior to becoming CEO of RDIF in 2011, Kirill Dmitriev headed a number of large private equity funds and completed a series of landmark transactions for Russia, including the sale of Delta Bank to General Electric, Delta Credit Bank to Société Générale, STS Media to Fidelity Investments, among others. Mr. Dmitriev began his career at Goldman Sachs and McKinsey & Company.

He was appointed by the President of Russia as a member of the BRICS and APEC Business Councils. He serves as a member of the supervisory board of ALROSA, and of the boards of directors of Transneft, Rostelecom, Gazprombank, MDMG, and Russian Railways. Mr. Dmitriev is also on the boards of trustees of the Mariinsky Theatre and Moscow State University. He is Vice President of the Russian Union of Industrialists and Entrepreneurs.

In 2011 he was the only Russian representative on the list of ‘100 most influential private equity professionals of the decade’ (Private Equity International); in 2009 he was selected by the World Economic Forum as a ‘Young Global Leader’. He holds a BA in Economics with Honors and Distinction from Stanford University and an MBA with High Distinction (Baker Scholar) from the Harvard Business School.

By the decree of the President of the Russian Federation, Mr. Dmitriev has been awarded the Order of Alexander Nevsky for his valuable contribution to international investment projects and the socio-economic development of Russia.

By the decree of the President of France, Mr. Dmitriev was awarded the title of Knight of the National Order of the Legion of Honor for his paramount contribution to strengthening cooperation between Russia and France.

 
Bing Hu
Co-CEO, RCIF
Senior Adviser to CIO,
Investment Committee Member, CIC

Mr. Bing HU served as Managing Director, Head of Special Investments Department of China Investment Corporation (CIC) from 2011 to January 2013. From 2009 to 2011, he was Head of Private Market Investment Department. Mr. Hu was part of the founding team of CIC; he officially joined CIC in 2007 as Head of Public Equity Investment Department and Head of Fix Income Investment Department.
 
Prior to joining CIC, Mr. Hu worked for the Chinese Securities Regulatory Commission (CSRC) as Deputy Director-General of Market Supervision Department and Commissioner in the Strategy and Development Committee of CSRC from 2002 to 2007. Mr. Hu was also the head of CSRC's securitization working group, and led the design and introduction of the first exchange traded Asset-Backed Security (ABS) product to China's capital market in 2005.
 
Before CSRC, Mr. Hu had spent six years on the Wall Street; firms he served include Goldman Sachs and Lehman Brothers.
 
Mr. Hu is the co-founder of Institutional Investors Roundtable (IIR), whose members include global renowned sovereign wealth funds and pension funds from China, Australia, Canada, France, Russia, and the Middle East. He served as the 1st Chairman of IIR from 2011 to 2012.
 
Mr. Hu holds his PhD & BA degrees from Peking University, and MBA degree from New York University’s Stern School of Business.