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