23.07.2012 - Russia Direct Investment Fund makes second investment into Moscow Exchange MICEX-RTS
The Russian Direct Investment Fund (RDIF) is a $10 billion fund established by the Russian government to make equity investments primarily in the Russian economy. The fund, which is in essence, the first sovereign wealth fund that functions as a private equity fund, announced its second investment in the MICEX-RTS exchange, in a transaction that will increase the funds stake to 2.7%. The transaction was completed as a joint effort between RDIF and US-based, private equity firm Cartesian Capital Management. Cartesian will now own approximately 2.5% of the Moscow Exchange. The stakes were purchased from ZAO UniCredit Bank, based in Russia. UniCredit will still maintain a 6% stake in the exchange following the transaction...............................................Full Article: Source
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