CIC, KIC chairmen named to high-profile RDIF advisory board

Other board members include Stephen Schwarzman, CEO of Blackstone Group, David Bonderman, co-founder of TPG Capital, Leon Black, CEO of Apollo Global Management, Joseph Schull, head of European operations at Warburg Pincus, Martin Halusa, CEO of Apax Partners, and Kurt Bjorklund, co-managing partner of Permira Advisers.

RDIF was set up in June and will receive about $10 billion in Russian government funds over the next five years. The fund is supposed to secure an equal contribution from a co-investor for each deal it makes, with a view to acting as a catalyst for the direct investment into Russia. In this way, it is hoped that the fund can diversify the country's economy, which relies on energy sales for 17% of GDP.

"To modernize the economy, you need smart capital, you need people who not only provide money, but also give ideas," Kirill Dmitriev, CEO of RDIF, told Bloomberg. "Russia is quite focused on attracting long term capital."

Dmitriev added the fund will probably make $500 million of investments outside the resources industry within six months. This corresponds with his previous statements, which also included the hope that Chinese partners would participate in at least one project.

Last week, RDIF assembled its core management team with the appointment of five directors, a legal counsel and an adviser.

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• Topics
• Europe
• Greater China
• North Asia
• Funds
• Advisory
• RDIF
• CIC
• KIC
• KIA
• The Blackstone Group
• TPG Capital
• Apollo Global Management
• Warburg Pincus Asia
• Apax Partners Hong Kong
• Permira Advisers