The Russian Direct Investment Fund (RDIF) today signed a memorandum of understanding (MoU) with Mumtalakat, the investment arm of the Kingdom of Bahrain, to strengthen investment cooperation between their respective countries.
The agreement aims to bolster the sourcing of common investment opportunities across the institutions’ respective sectors of interests.
It will see Mahmood Hashim Al Kooheji, chief executive of the Bahraini institution, become a member of RDIF’s board of international investors.
“The MoU with RDIF is a sure step towards exploring opportunities for growth across both economies and exchanging information, knowledge and expertise,” Hashim Al Kooheji said in a statement.
He will join the panel of sovereign fund bosses already present on RDIF’s international advisory board, whose members include top executives from China Investment Corporation, Kuwait Investment Authority, Qatar Investment Authority, Korea Investment Corporation, Abu Dhabi’s Mubadala, the Japan Bank for International Corporation and the Italian Strategic Fund.
The advisory body also counts as members a number of private equity luminaries, including The Blackstone Group’s Stephen Schwarzman, TPG’s David Bonderman and Apollo Global Management’s Leon Black.
Established in 2006, Mumtalakat holds stakes in more than 35 assets spanning a variety of sectors including aluminium production, telecommunications, transportation, real estate, tourism and food production.