Saudi Public Investment Fund to Allocate $10 Billion in Russia
Saudi Arabia’s Public Investment Fund (PIF) reached an agreement to invest US$ 10 billion in Russia toward investments in agricultural, infrastructure, retail, real estate and logistics for a period of up to five years. The PIF inked a deal with the Russian Direct Investment Fund (RDIF), a strategic development sovereign vehicle that co-invests with institutional partners. The RDIF sources large-scale projects and investments across Russia for its partners. Other sovereign funds and co-investments could potentially join in the co-investments.
Furthermore, the RDIF agreed to invest jointly with the Saudi Arabian General Investment Authority (SAGIA) in projects in Saudi Arabia and select Middle Eastern countries.
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