The Russian Direct Investment Fund (RDIF) and Abu-Dhabi’s Department of Finance announce the creation of the partnership to invest in Russian infrastructure projects and develop cross-border investment cooperation.

Under the agreement Abu-Dhabi’s Department of Finance will invest up to $5 billion in the partnership.

Investments made together by the parties will be guided by the principle of obtaining attractive returns on invested capital.

Kirill Dmitriev, CEO, Russian Direct Investment Fund (RDIF), said: “We are pleased to welcome our partners from Abu Dhabi’s Department of Finance. Their $5 billion contribution is the largest investment from the Middle East ever made into Russia as well as one of the largest into an infrastructure fund globally.”

Hamad Mohammed Al Hurr Al Suwaidi, Chairman, Abu Dhabi Department of Finance, said: “The signing of this memorandum and our commitment to invest up to $5 billion reflects our belief in the returns that can be generated from investing in Russian infrastructure. Sharing our collective international investment expertise and RDIF’s experience in Russia we expect to form a highly productive partnership.”

The Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity investments primarily in the Russian Federation.