| A joint venture between Russia Direct Investment Fund (RDIF) and China Investment Corp (CIC) plans to raise an $800 million fund to invest in infrastructure for senior living centers and to tap rising Sino-Russia tourism, a top executive at the Russian state-backed fund said on Monday.
The move is the latest in a series of partnerships and funds developed by RDIF, a $10 billion sovereign wealth fund set up in 2011 to attract strategic investors who have steered clear of Russia due to concerns over rampant graft and the rule of law. RDIF will hold a stake in the fund through Russia-China Investment Fund (RCIF), a private equity firm established with China's sovereign wealth fund CIC in 2012, RDIF Chief Executive Kirill Dmitriev told Reuters in an interview............................................Full Article: Source
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