Sunday, June 24, 2012
Kuwait invests 500 million U.S. in Russian Direct Investment Fund
The co-investment deal will see Kuwait invest 500 million U.S. along with the RDIF (Russian Direct Investment Fund). The CEO of the Kuwaiti investment group Bader Al_Saad announced the investment during a meeting with Russian President Vladamir Putin.
Al-Saad note:“Russia's economy will continue to grow faster than those of developed countries. Co-investing with the RDIF offers us a good opportunity to invest in the real economy and gain diversification across all sectors,”. “This is not a short-term investment in the stock market prone to volatility; it is an excellent and fair partnership with the RDIF and there is Russian government support for this partnership”. The RDIF matches foreign investment with its own funds. It is managed by Vnesheconombank. The CEO of the Russian fund said: "Automatic co-investment by the Kuwait Investment Authority, one of the largest and most respected investors globally, significantly increases the funds the RDIF can invest in the Russian economy. We are delighted to be announcing a major co-investment with a leading fund from the Middle East, the second for the RDIF, as historically that region of the world has not been well represented among foreign investors in Russia." For more see the full article