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Russian PE Fund To Co-Invest With China

The Russia Direct Investment Fund is in discussions with a Chinese group for making joint investments to reverse an outflow of foreign capital.

The Russia Direct Investment Fund is in discussions with a Chinese group for making joint investments to reverse an outflow of foreign capital, Bloomberg reports. The new fund will co-invest in deals taking advantage from the Russia-China relationship and trade. The state will offer nearly $10 billion in the next five years to draw a further $50 billion of co-investment from foreign buyout firms, sovereign wealth funds and companies planning to expand.

The Russian private equity fund seeks to encourage wary investors by putting government money alongside their capital in pursuit of returns of almost 30 percent. The fund’s investment executives include Neuberger Berman Group CEO George Walker, WL Ross & Co. chairman Wilbur Ross and Warburg Pincus co-president Charles Kaye.

Click here for the story from Bloomberg.

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