China Investment Corp., the nation’s sovereign-wealth fund, agreed to contribute $1 billion to a Russian private-equity vehicle, the first foreign commitment to a project championed by President Dmitry Medvedev.
Beijing-based CIC, which oversaw $409.6 billion by end-2010, plans to invest in a new Russia-China Investment Fund, Kirill Dmitriev, head of the Russian Direct Investment Fund that will co-manage the new vehicle, said by phone from Beijing yesterday, where the agreement was signed during a visit by Prime Minister Vladimir Putin.
Beijing-based CIC, which oversaw $409.6 billion by end-2010, plans to invest in a new Russia-China Investment Fund, Kirill Dmitriev, head of the Russian Direct Investment Fund that will co-manage the new vehicle, said by phone from Beijing yesterday, where the agreement was signed during a visit by Prime Minister Vladimir Putin.
