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Russia-Japan Investment Fund makes first investments of 10b roubles

[MOSCOW] The Russia-Japan Investment Fund (RJIF) has made its first investments in a number of Russia-focused deals, spending around 10 billion roubles (S$229.5 million), the fund said on Wednesday.

It said RJIF had invested in the Russian oil pipeline monopoly Transneft.

It also joined the Russian Direct Investment Fund (RDIF) and leading funds of the Middle East, participating last month in the initial public offering of Russia's En+ Group which manages businessman Oleg Deripaska's aluminium and hydropower businesses.

The RJIF was launched by RDIF and Japan Bank for International Cooperation (JBIC).

It said the fund was currently in the process of closing a deal to invest in a leading Russian high-tech pharmaceutical company, which is a producer and distributor of pharmaceuticals.

"The investments are carried out jointly with a leading Japanese corporation. The transaction is expected to close by the end of 2017," it said.