RDIF and Mubadala Agree to $2 Billion Co-Investment Fund
At the St. Petersburg International Economic Forum 2013, the CEO of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, and the CEO of the Mubadala Development Company, Khaldoon Al Mubarak, announced the creation of a US$ 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.”
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