MOSCOW, February 16, 2012 /PRNewswire/ --
The Russian Direct Investment Fund (RDIF), Russia's $10 billion sovereign private equity fund, today announced the composition of its Supervisory Board:
Alexei V. Ulyukaev - First Deputy Chairman of the Central Bank of the Russian Federation (Chairman); Sergei B. Ivanov - Chief of Staff to the President of Russia; Elvira S. Nabiullina - Minister of Economic Development of the Russian Federation; Vladimir A. Dmitriev - Chairman, Vnesheconombank; Kirill A. Dmitriev - Chief Executive Officer, Russian Direct Investment Fund; Josh Lerner - Jacob H. Schiff Professor, Harvard Business School; Laurent Vigier - Director of European and International Affairs, Caisse des Dépôts Group.
Kirill A. Dmitriev said:
"This Supervisory Board brings together some of the most respected figures from government, business and academia in Russia and internationally. It is an honor to welcome such distinguished individuals as AlexeiUlyukaev, Sergei Ivanov, ElviraNabiullina and Vladimir Dmitriev,as well as our international members Josh Lerner and Laurent Vigier. The Board will play a key role in guiding the strategic direction of the Fund and ensuring we consistently adhere to the highest standards of corporate governance. Our management and governance structures are now fully in place, we have made our first investment and we have tremendous momentum as we plan further investments and bring long-term direct investment into the Russian economyin the coming months and years."
The Board will meet quarterly and provide strategic direction and guidance to the Fund. Members of RDIF's International Advisory Board will participate in all Supervisory Board committees, as an additional measure to ensure transparency of the Fund.
About the Russian Direct Investment Fund (RDIF)
The Russian Direct Investment Fund was established in June 2011. RDIF will be capitalized with USD 10 billion in Russian government funds over the next five years and is charged with making equity investments that generate strong returns, primarily in Russia. In each investment it makes, RDIF is required to secure co-investment that at minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. In September 2011 the International Advisory Board of RDIF was appointed, including the heads of the Chinese, Kuwaiti and Korean sovereign wealth funds as well as founders and CEOs of leading private equity firms Apollo, Blackstone, TPG, Apax, Warburg Pincus and Permira.Additional information is available at http://www.rdif.ru.
SOURCE Russian Direct Investment Fund