Ex-Goldman Sach Banker Tapped to Run New “Russia Direct Investment Fund”

Zerohedge dug up this nugget of news:

But, as The FT reports, it is always about “follow the money” and China is not pulling back from Russian investment at all…

Russia’s $10bn state-backed fund has tapped Chinese and Middle Eastern sovereign wealth fund money in a bid to show it can attract foreign capital into the country even if US and European investors turn away following the annexation of Crimea.

 

Russian Direct Investment Fund (RDIF), which was set up by President Vladimir Putin three years ago and which counts Blackstone chief executive Stephen Schwarzman, Apollo’s co-founder Leon Black and Apax’s boss Martin Halusa on its international advisory board, is leading the purchase of a $200m stake in Sodrugestvo, a large oilseed processor and trader, alongside sovereign wealth funds including China Investment Corp.

 

 

“Obviously, what we see now, is that US and European investors are slowing down their investment pace. I expect we’ll do many more deals with Chinese and Middle Eastern investors going forward,” Mr Dmitriev said. “But we have significant hope of de-escalation going forward.”

But it’s not just China…

In July, Mr Dmitriev, a former Goldman Sachs banker, announced the appointment of Ahmad Mohamed Al-Sayed, the chief executive of the Qatar Investment Authority, to RDIF’s international advisory board, heralding a possible collaboration with Qatar.

So Stephen Schwarzmann, Leon Black, Martin Halusa, the Qatar Investment authorirty, and Dominique Strauss Kahn are all on the advisory board of the RDIF and it’s run by this guy:

Kirill A. Dmitriev, Chief Executive Officer, Russian Direct Investment Fund

 

Kirill Dmitriev is the Chief Executive Officer of the Russian Direct Investment Fund. Before being asked by the Russian government to run the fund, Mr. Dmitriev was President of Icon Private Equity, a leading private equity fund in the CIS with over $1 billion under management. Prior to establishing Icon, he was Co-Managing Partner of Delta Private Equity Partners, a leading private equity fund in Russia with over $500 million under management. Prior to joining Delta Private Equity in 2002, Mr. Dmitriev was Deputy General Director at IBS, the top Russian IT services provider.

 

He also worked as an investment banker with Goldman Sachs in New York and as a consultant with McKinsey & Company in Los Angeles, Moscow and Prague. Mr. Dmitriev is a Young Global Leader of the World Economic Forum in Davos and past Chairman of the Russian Venture Capital and Private Equity Association. He holds a BA in Economics with Honors and Distinction from Stanford University and an MBA with High Distinction (Baker Scholar) from the Harvard Business School.

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