Russian Direct Investment Fund

The Russian Direct Investment Fund (RDIF) is a $10 billion fund established by the Russian government in June 2011 to make equity investments in high-growth sectors of the Russian economy. RDIF's mandate is to co-invest alongside large and sophisticated global investors, thus acting as a catalyst for foreign direct investment in Russia in order to make foreign investors feel more comfortable investing in Russia's uncertain business environment which is rampant with corruption.

History

RDIF was founded in June 2011 under the leadership of both President Dmitry Medvedev and Prime Minister Vladimir Putin as part of a broader initiative to improve the investment climate of Russia and establish Moscow as an international financial center. RDIF is managed by a highly qualified team of private equity investors with broad international and Russian experience.

In its first year of operations, RDIF partnered with China Investment Corporation to create the $2 to $4 billion Russia-China Investment Fund. In that period, RDIF also acquired a stake in the power generation company Enel OGK-5, leading an international consortium of private equity investors, including a firm whose investors are Middle East institutions, a private equity fund specializing in the energy sector, and the Macquarie Group's Renaissance Infrastructure Fund and Xenon Capital Partners' Rusenergo Fund. Earlier in 2012 RDIF acquired a stake in the Moscow Exchange Group MICEX-RTS alongside the European Bank for Reconstruction and Development.