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RDIF and Kuwait Investment Authority Cement Co-Investment Mechanism Deal

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Russia Direct Investment FundAccording to the press release, “During a meeting at the St. Petersburg International Economic Forum between Russian President Vladimir Putin and the heads of leading global investment and securities firms, the Russian Direct Investment Fund (RDIF) and Kuwait Investment Authority (KIA) announced the launch of an automatic co-investment mechanism.

The initiative, which will see KIA invest $500 million alongside the RDIF, was announced by Bader Mohammed Al-Saad, Chief Executive Office and Managing Director, KIA, in the meeting with President Putin. The co-investment mechanism means that KIA will co-invest in all RDIF transactions.

Mr. Al-Saad commented: “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. We highly rate the skilled management team of the RDIF.”

Kirill Dmitriev, Chief Executive Officer of the RDIF, 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, already second for the RDIF, as historically that region of the world has not been well represented among foreign investors in Russia.'”

Read more: RDIF Press Release

Kuala Lumpur to Singapore Highway Delayed

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The Malaysian government under Prime Minister Mahathir bin Mohamad has been reprioritizing its large-scale infrastructure developments. The highly anticipated railway from Kuala Lumpur to Singapore has been delayed by another five years. The governments of Malaysia and Singapore signed a formal agreement on September 5, 2018. The previous ruling party in Malaysia had set the railway in motion, but the current administration is seeking time for further review. A joint statement suggested that the railway was still a certainty.

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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