RDIF, CIC plan to expand joint investment fund
The Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC) are planning a $2bn top-up to their joint fund, according to Private Equity International.
RDIF and CIC unveiled plans to create an investment fund worth up to $4bn last year.
The terms of the agreement state that no less than 70 per cent of the capital must be invested in Russia or the CIS.
RDIF has recently launched joint funds with Italy’s Fondo Strategico Italiano, Korea Investment Corporation and the Russia-France Investment Fund with Caisse des Dépôts.
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