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Q&A with Sean Glodek, Director, Russian Direct Investment Fund

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Sean Glodek

Sean Glodek

This interview will appear in the 4Q Y2012 (Jan 2013) issue of the Sovereign Wealth Quarterly.

This is a Q&A with Sean Glodek, Director, Russian Direct Investment Fund.

1. What was the reason for creating the Russian Direct Investment Fund (RDIF)?

The Russian Direct Investment Fund (RDIF) is a $10 billion private equity fund established by the Russian government to make equity co-investments primarily in the Russian economy. RDIF’s mission is to make profitable direct investments alongside some of the largest and most sophisticated global institutions. Through this partnership we aim to attract foreign investors bringing to Russia not just their investment, but also their experience and technology.

This government sponsored fund was created in 2011 under the leadership of both Vladimir Putin and Dmitry Medvedev and is managed by a highly qualified team of private equity professionals with a broad international and Russian experience.

RDIF, a 100% owned subsidiary of Vnesheconombank (VEB) which is Russia’s state development bank, operates like a traditional private equity fund according to the industry’s best practices in both investment process and governance.

2. Oil generates a major portion of the country’s GDP, are there policy measures put in place to stimulate industrial diversity?

While oil and gas revenues are very important to the overall GDP, RDIF is targeting sectors benefiting from the rapidly growing middle class, including consumer, retail, healthcare, technology or financial services. In addition, we are focused on investments supporting the development of Russian infrastructure, including transportation, logistics, and power generation.

3. When selecting co-investors for RDIF, what sort of traits do you look for in partners and investors? Is there a minimum capital commitment amount?[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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