RDIF bolsters international advisory board

The three high-profile appointments, which include the president of China Investment Corporation and the CEO of Qatar Investment Authority, come as Russia’s sovereign wealth fund continues to forge partnerships with international institutions to source co-investment opportunities.

The Russian Direct Investment Fund, Russia’s $10 billion state-backed vehicle, has recruited three prominent members to its international advisory board. 

Gao Xiqing, president of the China Investment Corporation, is to join the high-profile body alongside Ahmad Mohamed Al-Sayed, chief executive of the Qatar Investment Authority, and Khaldoon Khalifa al-Mubarak , CEO of Abu Dhabi’s Mubadala Development Company

All three have impressive pedigrees. Prior to his current role, Gao worked as deputy chairman of China’s Social Security fund, as well as CEO of Bank of China International Holdings; Al-Sayed has served as  managing director of Qatar Holdings and vice-chairman of Qatar’s stock exchange. Al-Mubarak, meanwhile, provides policy advice to the chairman of Abu Dhabi Executive Council, and also heads Emirates Nuclear Energy Corporation and Emirates Aluminium. 

The fresh hires will add to a number of high-profile figures already advising RDIF, which include The Blackstone Group’s Steve Schwarzman, Apollo Global Management’s Leon Black and TPG’s David Bonderman. The board also counts representatives from Permira, Apax Partners and Warburg Pincus, as well as senior members from the Kuwait Investment Authority and Korea Investment Corporation

The fund, which was established in 2011 to attract foreign direct investments in Russia, has already made nine investments. Along with co-investments it has secured from third parties, the capital deployed by the fund since inception amount to $2 billion, including $600 million of its own equity.

Its latest appointments come a few weeks after RDIF teamed up with Mubadala to launch a $2 billion co-investment vehicle, and follows similar agreements signed with France’s Caisse des depots et Consignations in February and the State Bank of India last December.