The fund will invest infrastructure for senior living centres and to tap Sino-Russia tourism, RDIF CEO Kirill Dmitriev told Reuters.
RDIF will hold a stake in the fund via Russia-China Investment Fund, which it launched in partnership with CIC in 2012.
“We will hold a controlling stake, but will raise the rest of the fund from international partners,” said Dmitriev.
He noted that 3.3m Chinese tourists visited Russia in 2012, marking a threefold increase from 2007.
Last December it was reported that RDIF and CIC were planning a $2bn top-up to their joint fund.
RDIF and CIC unveiled plans to create an investment fund worth up to $4bn in 2012.
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