Chinese Mull New Fund

Jun. 16 2011 — 00:00

China Investment Corporation, the country's sovereign wealth fund, is in talks with VEB to invest in the Kremlin's new private equity fund, the development bank's chairman Vladimir Dmitriyev said.

CIC "is ready to consider concrete projects as part of co-investment with the direct investment fund," Dmitriyev said in Astana, Kazakhstan, where leaders of the Shanghai Cooperation Organization are meeting. "So far there is no talk about what sums they are ready to invest," Dmitriyev said.

Russia plans to invest at least $10 billion in the fund over the next five years to take minority stakes in companies and projects.


Russia Wins Gold at Rio Olympics
The flame for the 2016 Summer Olympics was extinguished in Brazil's Rio de Janeiro on Sunday, symbolizing the end of the Games. Russia finished fourth ...
Prepare to be Dazzled at VDNKh's Festival of Music and Light
If you're on the hunt for a midweek pick-me-up look no further than the festival of music and light at Moscow's VDNKh. The ...
Prepare to be Dazzled at VDNKh's Festival of Music and Light
If you're on the hunt for a midweek pick-me-up look ...
Ukrainian Army Pushes Further Westernization With New Uniforms
Four thousand Ukrainian soldiers marched through Kiev to celebrate 25 years of the country's independence. The parade is ...