Russia-China Investment Fund Buys Nearly 42% Stake in RFP Group
The Russia-China Investment Fund (RCIF), a private equity vehicle funded by the China Investment Corporation (CIC) and the Russian Direct Investment Fund (RDIF), bought nearly a 42% stake in RFP Group (Russian Forest Products Group). RFP Group is a forestry holding company in Russia’s Far East. It is the number #2 company in Russia for forest area under management. The RFP Group manages 5 million hectares of forest – about 80% the size of the state of West Virginia.
According to the RDIF’s press release, Hu Bing, Co-CEO of the Russia-China Investment Fund (RCIF), said:
“Investment in the forestry industry of the Far East fits well with the fund’s strategy to generate strong returns. RCIF is also committed to improve RFP Group’s operation, financing, and corporate governance. Both economies of Russia and China may benefit from cross-border synergies created by RCIF’s investment.”
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