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20b russian direct investment fund set to invest in egypt
The Russian Direct Investment Fund (RDIF) is a $10 billion fund established by the Russian government in June 2011 to make equity investments in high-growth sectors of the Russian economy. RDIF's mandate is to co-invest alongside large and sophisticated global investors, thus acting as a catalyst for foreign direct investment in Russia.
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History
RDIF was founded in June 2011 under the leadership of both President Dmitry Medvedev and Prime Minister Vladimir Putin as part of a broader initiative to improve the investment climate of Russia and establish Moscow as an international financial center. RDIF is managed by a highly qualified team of private equity investors with broad international and Russian experience.
RDIF has invested and committed for this purpose over RUB 850 billion, of which RDIF alone invested more than RUB 85 billion and over RUB 765 billion came from co-investors, partners and banks. RDIF also attracted over $27 billion of foreign capital into the Russian economy through long-term strategic partnerships.
Corporate structure
Kirill Dmitriev is RDIF's CEO.
On the 2nd of June, 2016 President Vladimir Putin signed Federal Law on the Russian Direct Investment Fund changing the status of RDIF. According to the law, RDIF becomes the sovereign fund of the Russian Federation.