Russia's RDIF Planning To Make Joint Investment With Baring Vostok In May - Head

The Russian Direct Investment Fund (RDIF) plans to make a joint investment in technologies with the Baring Vostok investment fund in the coming month, RDIF head Kirill Dmitriev said on Friday

BEIJING (UrduPoint News / Sputnik - 26th April, 2019) The Russian Direct Investment Fund (RDIF) plans to make a joint investment in technologies with the Baring Vostok investment fund in the coming month, RDIF head Kirill Dmitriev said on Friday.

"Yes, we are planning a joint investment with Baring in the near future, I would say next month. We are finishing the work on this transaction. I can only say that this is a transaction in the technology sector," Dmitriev told reporters.

Dmitriev said on April 11 that RDIF continued to work with Baring Vostok in spite of the legal proceedings against the fund's founder and several employees and planned to announce new joint investments in Russian companies in the near future.

"As I said before, we think that Baring continues to work actively. On Monday, as you know, a possible easing of arrest conditions for the three remaining Baring Vostok employees will be discussed, therefore, of course, we will closely monitor the decision that will be made on Monday.

Our position has always been that we hope to mitigate the conditions of detention for all employees of Baring Vostok," Dmitriev said.

In February, Baring Vostok founder Michael Calvey alongside five other suspects were detained over suspected complicity in the theft of 2.5 billion rubles from Russia's Vostochny Bank. On February 16, Moscow's Basmanny Court ordered Calvey to be held in custody for two months. Calvey has insisted that he is not guilty and has committed no crime.

On April 11, the court ruled to release Calvey from custody and put him under house arrest. Calvey will remain under house arrest until July 14.