Mubadala Development Co., owned by Abu Dhabi’s government, agreed to contribute half of a $2 billion investment fund it’s setting up with the Russian Direct Investment Fund.
The fund will focus on a “range of industry sectors” and “is aligned with Mubadala’s plans to establish a strong presence in key international markets,” Mubadala Chief Executive Officer Khaldoon Al Mubarak and his RDIF counterpart Kirill Dmitriev said in a joint statement distributed today near St. Petersburg.
The RDIF is also planning an infrastructure fund with Macquarie Group Ltd., Australia’s largest investment bank, Dmitriev said during a meeting with President Vladimir Putin.
Industries of interest for cooperation with foreign funds include road building, railways and telecommunications, he said.
To contact the reporter on this story: Ilya Arkhipov in Moscow at firstname.lastname@example.org
To contact the editor responsible for this story: Balazs Penz at email@example.com