Russian Direct Investment Fund seeks partnership with Germany
State-backed Russian Direct Investment Fund (RDIF) is looking to form a strategic partnership for co-investments with Germany, according to reports.
RDIF CEO Kirill Dimitriev said he expects one fifth of all investments over the coming 10 years to come from Germany. This is, according to Dimitriev, because of Russia's increasing relevance as a European automotive market and Germany's car manufacturing capacity.
The RDIF, which is worth $10bn, secured $1.6bn from co-investors in 2012. Another $1.5bn has been committed through strategic partnerships with Kuwait and China.
In December 2012, the RDIF was part of a consortium led by Baring Vostok that invested in Russian cinema business Karo Film Group.
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