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RDIF Leads Consortium in the Russian Tire Industry

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tire_1The Russian Direct Investment Fund (RDIF), Titan International Inc. and One Equity Partners LLC have reached an agreement with Russian tire producer Cordiant to invest in Voltyre-Prom, a Russian agricultural and industrial tire manufacturer. To shed additional detail on the involved entities, Titan International Inc., is one of the world’s largest manufacturers of agricultural and industrial tires that makes them under the Titan and Goodyear brands. One Equity Partners is a subsidiary of JP Morgan Chase & Co that manages private equity investments.

This consortium will own a controlling stake in Voltyre-Prom with Titan International as the managing partner. Titan International is keen on growing their tire business in Russia and the Commonwealth of Independent State countries. The company is bullish on Russia’s burgeoning farming and mining industries.

Kirill Dmitriev, CEO of the RDIF, said, “RDIF completed this deal alongside world class strategic partners from both the global industrial and financial sectors. The involvement of investors of such scale underlines the growth prospects in the Russian agricultural sector. The expertise and knowledge of our partners will help shift the production of world-class tires that currently takes place overseas to Russia. This investment meets the fund’s objectives and represents an exciting opportunity to get a foothold in this sector.”

Planned Signing – General Electric MoU
The Russian Direct Investment Fund plans to sign a Memorandum of Understanding (MoU) with General Electric on June 21, 2013 to create a joint venture for the construction of mini power plants for Russian manufacturing companies. Autonomous electric power systems can help Russian companies meet some energy needs without the cost to build transmission lines.

Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Property Bureau Moves Assets to Thailand King Under 2017 Law

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In December 2016, Crown Prince Maha Vajiralongkorn became King of Thailand, succeeding his father King Bhumibol Adulyadej who passed away in October 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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