<article>Russian sovereign wealth fund RDIF said on Thursday that its Saudi counterpart would become a new partner in the joint Russia-China Investment Fund.</article>

Russian sovereign wealth fund RDIF said on Thursday that its Saudi counterpart would become a new partner in the joint Russia-China Investment Fund.
Under the deal, Riyadh&#8217;s Public Investment Fund (PIF) will contribute $500 million to what becomes the Russian-Chinese-Saudi investment fund, raising its total capital under management to $2.5 billion, RDIF said in a statement.
PIF hosted an investment conference in Riyadh this week during which Saudi Arabia said it had signed $56 billion of deals and that it expected the United States to remain a key business partner, despite a partial boycott of the event over the killing of Saudi journalist Jamal Khashoggi.
RDIF and China Investment Corporation previously contributed $1 billion each to their fund, which has invested in more than 25 projects in the forestry, infrastructure, consumer goods, financial and other sectors since its establishment in 2012.
&#8220;This trilateral venture will not only unify their expertise in Europe, Asia and the Middle East, but will also allow the fund&#8217;s portfolio companies to receive support in several key markets at once,&#8221; RDIF chief executive Kirill Dmitriev said.
&#8220;We do not limit the joint fund to three partners. We are currently negotiating with other RDIF partners about the possibility of joining the fund,&#8221; he added.
Reuters

Russian sovereign wealth fund RDIF said on Thursday that its Saudi counterpart would become a new partner in the joint Russia-China Investment Fund.

Saudi PIF to become joint partner in Russia-China investment fund

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Saudi PIF to become joint partner in Russia-China investment fund

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