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Russian Direct Investment Fund, Italy’s FSI to create €1 billion investment platform

November 26, 2013, 9:42 UTC+3 TRIESTE
The signing ceremony will take place in the presence of Russian President Vladimir Putin and Italian Prime Minister Enrico Letta
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© ITAR-TASS/Mikhail Klimentyev

TRIESTE, November 26. /ITAR-TASS/. The Russian Direct Investment Fund and Fondo Strategico Italiano will sign a memorandum on Tuesday to create a €1 billion investment platform that will specialize on projects in Russia and Italy.

The signing ceremony will take place in the presence of Russian President Vladimir Putin and Italian Prime Minister Enrico Letta.

The Russian Direct Investment Fund and Fondo Strategico Italiano will inject €500 million each that will be directed to companies and projects to boost trade and increase the volume of direct foreign investments between Italy and Russia.

“The Russian-Italian investment platform will help significantly strengthen investment and trade cooperation between Russia and Italy,” the director-general of the Russian Direct Investment Fund, Kirill Dmitriyev, said. “Now 500 companies with Italian capital operate in Russia, of them 70 have their own production inside Russia.”

The Russian Direct Investment Fund was established in June 2011 by the Russian government to make equity investments primarily in the Russian economy. The Fund’s managing company is headquartered in Moscow. It is a 100% subsidiary of Vnesheconombank (VEB).

Fondo Strategico Italiano (FSI) is a holding company. Cassa Depositi e Prestiti SpA is a controlling shareholder of the FSI.

The FSI invests into companies that seek to expand their business, improve operational activity and strengthen positions on the domestic and international markets. The fund is a long-term minority investor, which takes an active part in management of companies it invests in.

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