Published: April 29, 2014
The Russian Direct Investment Fund inks cooperation agreement with Bahrain’s state investment firm.
The Russian Direct Investment Fund (RDIF), set up to make equity co-investments in Russian businesses, has signed a memorandum of understanding with Mumtalakat, the investment arm of the Kingdom of Bahrain.
The agreement promotes “the exchange of information and expertise in sectors and areas of common interest for both entities and sets the overall parameters for identification and cooperation on mutually beneficial prospective investment and co-investment opportunities”, according to an RDIF statement. It has also been announced that Mahmood Hashim Al Kooheji, CEO of Mumatalakat, will join the RDIF’s international advisory board.
This is the latest in a series of agreements between the RDIF and Gulf Cooperation Council partners. In September Abu Dhabi’s Department of Finance contributed US$5bn to Russian infrastructure projects, the largest ever investment into Russia from the Middle East.