Home > Media > Press Releases > RDIF and China Investment Corporation announce additional funding for Russia-China Investment Fund

RDIF and China Investment Corporation announce additional funding for Russia-China Investment Fund

 Moscow, 4 July, 2017 — The Russian Direct Investment Fund (RDIF), a sovereign fund of the Russian Federation, and China Investment Corporation (CIC), the sovereign wealth fund of the People’s Republic of China, have announced a capital increase of the Russia-China Investment Fund (RCIF). The respective agreement was signed today by the heads of the RDIF and CIC during the Russia-China negotiations in Moscow. It was attended by Vladimir Putin, the leader of the Russian Federation, and Xi Jinping, the leader of the People’s Republic of China.

RCIF’s investment activities are aimed at developing the bilateral economic, trade and investment relations between Russia and China. Since its foundation in 2012, the Fund has committed 19 investments worth US $1 bn in wood processing, transport infrastructure as well as the financial, technological and consumer sectors.

In accordance with the agreement, capital under the RCIF’s management is to be increased by US $1bn through proportional contributions of RDIF and CIC. An additional amount of up to US $2bn can be provided by new investors.

Kirill Dmitriev, the CEO of the Russian Direct Investment Fund (RDIF) and the Co-CEO of the Russia-China Investment Fund (RCIF), said:

“RCIF, the first joint fund established by RDIF, has taken on a leading role in developing the investment cooperation between China and Russia. The RCIF activities prove conclusively that a successful project implementation ensures attractive profitability and facilitates the development of companies and regions, including the Far East. We would like to thank our partners from the CIC for their trust, collaborative efforts and determination to develop our cooperation.”

Qing Zhang, the Executive Vice President of CIC Capital Corporation, CIC’s direct investment arm, said:

CIC has a long history investing in Russia. In 2012, CIC decided to jointly set up RCIF with RDIF, a trustworthy investment institution and reliable partner in Russia. So far, RCIF has generated good investment return and raised its reputation in China-Russia investment.”

 

***

Russian Direct Investment Fund (RDIF) is a Russian sovereign fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru

 

China Investment Corporation (CIC) - Headquartered in Beijing, CIC was founded on September 29, 2007, as a wholly state-owned company incorporated in accordance with China’s Company Law. CIC was established as a vehicle to diversify China's foreign exchange holdings and seek maximum returns for its shareholder within acceptable risk tolerance. As a long-term financial investor, CIC invests on a commercial basis. Additional information is available at www.china-inv.cn

 

Russia-China Investment Fund (RCIF) is a private equity fund established to invest in unique opportunities which have appeared as a result of rapid development of economic cooperation, fast growing trade, and increasing purchasing power of the middle class in Russia, China and CIS countries. The Fund was created by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC). RCIF is primarily focused on cross-border transactions, as well as investment opportunities within the economic region across a broad range of sectors to facilitate both countries’ the structural reforms and economic efficiency. Further information at www.rcif.com

 

For additional information contact:

Maria Medvedeva                                          Andrew Hayes / Yulianna Vilkos

Russian Direct Investment Fund                 Hudson Sandler

Director of External Communications Tel: +44 (0) 20 7796 4133

Tel: +7 495 644 34 14, ext. 2141

Mobile: +7 964 726 17 73

E-mail: mm@rdif.ru

 

Tony Han

Russia-China Investment Fund

Beijing, China

Tel.: +86 10 5762 9000

Fax: +86 10 5762 9111

dong.han@rcif.com

 

Yury S. Trofimov

Russia-China Investment Fund

Moscow, Russia

Tel.: +7 (495) 230-05-55 ext. 4243

Mob.: +7 (985) 765-13-12

yury.trofimov@rcif.com