The Russian Direct Investment Fund will focus on attracting investors to the government’s $14 billion asset sales rather than taking large shareholdings itself, Chief Executive Officer Kirill Dmitriev said.
Russia may pivot to Asia should the proposed U.S.-European Union free-trade agreement hurt its businesses, said Kirill Dmitriev, the Chief Executive Officer of the $10 billion Russian Direct Investment Fund.
The Moscow Exchange’s $498 million debut on Russian markets will probably fail in enticing companies to list exclusively on the bourse, according to Otkritie Financial Corp. The shares slid below their offer price in intraday trading for a second day.
The Russian Direct Investment Fund will seek to buy as much as $100 million of stock in the Moscow Exchange’s initial public offering, according to a person with knowledge of the Kremlin-backed private-equity fund’s plan, who asked not to be identified because the information isn’t public.
China Investment Corp., the nation’s sovereign-wealth fund, agreed to contribute $1 billion to a Russian private-equity vehicle, the first foreign commitment to a project championed by President Dmitry Medvedev.