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RDIF and Private Equity Firm Acquire Stakes in Moscow Exchange MICEX-RTS

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Russia Direct Investment FundThe press release states, “Cartesian Capital Group, LLC, a global private equity firm and the Russian Direct Investment Fund (RDIF), Russia’s $10bn government-sponsored private equity fund have acquired stakes in the Moscow Exchange MICEX-RTS from ZAO UniCredit Bank (“UniCredit Bank”).

Following this transaction, the RDIF will own approximately 2.7% and Cartesian will own approximately 2.5% of MICEX-RTS. UniCredit Bank will reduce its stake in the exchange to 6.2%.

The investment is part of a long-term strategy to promote the development of Russian capital markets and broaden the regional and international appeal of the Moscow Exchange. This transaction follows an investment earlier this year in the exchange by the RDIF and the European Bank for Reconstruction and Development.

Kirill Dmitriev, Chief Executive Officer of RDIF, said: “We are pleased to invest alongside a leading private equity firm such as Cartesian Capital in a great Russian company. This is our second investment in the Moscow Exchange, and together with Cartesian and the EBRD we look forward to supporting the exchange as it continues to grow and develop.”

Peter Yu, Managing Partner of Cartesian, noted: “With its strong market-leading position, MICEX-RTS is both central to Russia’s continued development as a regional and global financial center and an attractive IPO candidate. Even in times of continued economic uncertainty, well-managed exchanges can thrive. RDIF is an ideal value-added partner for institutional investors entering Russia and we will work closely with them in the continued development of the exchange.”

Mikhail Alekseev, CEO of ZAO UniCredit Bank, said: ‘We are keen to remain one of the largest shareholders in MICEX-RTS and we are committed together with other shareholders, including those to whom we sold part of our stake, to foster its development and support the company on its way to the IPO.'”

Read more: Russia Direct Investment Fund Press Release

Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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