Russian Direct Investment Fund
The Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in June 2011 by the Russian government to make equity investments in high-growth sectors of the Russian economy. RDIF's mandate is to co-invest alongside large and sophisticated global investors, thus acting as a catalyst for foreign direct investment in Russia. The CEO of RDIF is Kirill Dmitriev.
RDIF was founded in June 2011 under the leadership of both President Dmitry Medvedev and Prime Minister Vladimir Putin as part of a broader initiative to improve the investment climate of Russia and establish Moscow as an international financial center. RDIF is managed by a team of private equity investors with broad international and Russian experience.
RDIF has invested and committed for this purpose over RUB 1 trillion, of which RDIF alone invested more than RUB 100 billion and over RUB 900 billion came from co-investors, partners and banks. RDIF also attracted over $30 billion of foreign capital into the Russian economy through long-term strategic partnerships.
On 2 June 2016, President Vladimir Putin signed Federal Law on the Russian Direct Investment Fund changing the status of RDIF. According to the law, RDIF became the sovereign wealth fund of the Russian Federation.