Russia-China fund to invest $500m this year

The Russia-China Investment Fund, a private equity fund formed by the Russian Direct Investment Fund and China Investment Corp, will invest more than $500 million in 2017 in Russia and China in infrastructure, agriculture, technology and consumer sectors, according to its senior executives.

"The Russia-China Investment Fund has played a crucial role in showcasing that we can make very good returns by working together," said Kirill Dmitriev, co-CEO of the Russia-China Investment Fund and CEO of the Russian Direct Investment Fund, the country's sovereign wealth fund.

Dmitriev said the RCIF will invest more than $500 million in seven to nine deals this year, and for every dollar they invest in, they will attract $3 to $5 from other investors.