China Investment Corporation (CIC) is seeking to invest in Russia’s new private equity fund, Bloomberg reports. The Chinese sovereign wealth fund is in discussions with Russian development bank VEB for the investment.
The Chinese vehicle is also considering concrete projects as part of its co-investment with the direct investment fund. Russia is seeking to inject around $10 billion in the fund in the next five years to buy small shares in companies and projects that will be led by foreign buyout firms.
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