RDIF Announces Multi-Billion Dollar BRICS Infrastructure Investment Fund | News | The Moscow Times:
"The Russian Direct Investment Fund, or RDIF, will create a multi-billion dollar infrastructure investment fund together with sovereign wealth funds from the BRICS group of developing countries.
The joint fund will invest in the equity capital of BRICS infrastructure projects, the RDIF said Monday on its website, adding that its international partners had pledged their support to the initiative. If final negotiations are successful, the RDIF said the fund should be active by the next BRICS summit in the Russian city of Ufa in summer 2015.
Highlighting the huge shortfalls in infrastructure investment in BRICS countries, Kirill Dmitriev, CEO of the Russian state-sponsored private equity fund, told business daily Vedomosti that the fund's cash pot will run into the billions of dollars, though not all partners have specified their commitments."
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