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RDIF and Mubadala Agree to $2 Billion Co-Investment Fund

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russia1At the St. Petersburg International Economic Forum 2013, the CEO of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, and the CEO of the Mubadala Development Company, Khaldoon Al Mubarak, announced the creation of a US$ 2 billion co-investment fund. Each partner is committing US$ 1 billion to the fund that will target opportunities in Russia. The Russian Direct Investment Fund has been successful attracting Gulf and Chinese sovereign funds to co-invest in unique deals in Russia.

According to an RDIF press release, Khaldoon Al Mubarak, Mubadala’s Chief Executive Officer, commented, “A partnership approach is at the heart of Mubadala’s business philosophy, and given the track record and caliber of the RDIF team we are confident that our collaboration will deliver long-term financial returns and development opportunities.”

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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