Sovereign Fund of Kuwait will allocate $500 million to RDIF projects

Moscow. November 10. Sovereign wealth Fund of Kuwait (Kuwait Investment Authority) will allocate an additional $500 million to invest in projects of the Russian direct investment Fund.

The corresponding agreement was signed on Tuesday in Sochi, the CEO of RDIF Kirill Dmitriev and CEO of the Kuwait Fund Bader Mohammad al-Saad at the meeting of Russian President Vladimir Putin and the Emir of Kuwait Sabah al-Ahmad al-Sabah, the correspondent.

Kuwait Investment Authority in 2012 became one of the first foreign partners of the FUND, agreeing to invest about $500 million in projects of the Foundation. Part of these funds are invested within the framework of the mechanism of automatic co-investment. Now the parties have come to an agreement about the increase in the share of the Kuwaiti Fund invested within the framework of this mechanism, RDIF said.

How much invested the first $500 million at the moment, including through the mechanism of automatic co-investment, the parties are not reported.

Sovereign Fund of Kuwait participated in a number of major projects RDIF – in particular, in the secondary placement of shares of the Moscow exchange and retailer Lenta.