Bloomberg News

Abu Dhabi’s Mubadala in $1 Billion Investment in Russia (1)

June 20, 2013

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 iarkhipov@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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