Saudi Arabia’s PIF to invest $500 mln in Russia–China fund

MOSCOW, Oct 25 (PRIME) -- Saudi Arabia’s Public Investment Fund (PIF) will invest U.S. $500 million in the Russia–China Investment Fund (RCIF), driving the fund’s capital to $2.5 billion, the Russian Direct Investment Fund (RDIF) said in a statement on Thursday.

“The RDIF announces plans to attract a new partner to the Russia–China Investment Fund, the Kingdom of Saudi Arabia’s sovereign fund Public Investment Fund. According to the organizational documents, the RCIF is an open platform and it can attract new capital from international institutional investors,” the RDIF said, adding that the PIF would invest $500 million.

RDIF CEO Kirill Dmitriev said that Saudi Arabia planned to invest into the RCIF, and that the fund would be renamed into the Russia–China–Saudi Arabia Investment Fund.

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