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Kuwait Wealth Fund Investing $500 Million With Kremlin RDIF

Kuwait Investment Authority, the country’s sovereign wealth fund, will invest $500 million in private equity together with the Kremlin-backed Russia Direct Investment Fund, Managing Director Bader Mohammad Al-Saad said today in St. Petersburg.

The Kremlin established the RDIF a year ago to help lure foreign investment and expertise in its drive to wean the world’s largest energy supplier off its dependence on commodity exports.

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