well bankrolled sports projects and a couple of months off a billion dollars will go towards medicine pharmacy tech recall sure an important placement the deputy head of the russian central bank says much of this money will probably come from the middle east but the fund still has much work ahead to make everyone believe their investments should you see. him as the main thing of welcome to the show thank you for coming well if first of all i wanted to ask you what makes you were for the new fund you having different from other investment firms that are existing in the country because people have been investing into russian economy for a long time i'm sure sure one of the key features is a core investment future so we will be able to invest any money in any business unless there was at least the same amount of going vestment coming from lead in international investors so that's a very unique feature and it's very important because it always allows us to have second pairs of eyes looking over investments we are doing that allows us to bring

foreign investment into the russian economy before you were appointed president of this new fund you were president of the i can promise that equities naturally what was so special about this company what was so special about the job you did there that made you fit for the new position that made president pick you personally for this new position i'm sure well we've been doing investments and i've been doing investments in russia for the last ten years and it's very important investment businesses to have a good track record so not only to make good investments but to have good ags that's so i've been lead into firms one is delta private equity another and i can private equity and we've really been very successful in making investments in financial service sector in me just service sector in other sectors since the economy so i'll give you an example when i was a delta we invested in one of the you know small medium. but you said that time

called c g c media which is now one of the largest entertainment empires in russia and the value grew from fifty million when we invested in the business to over three billion right now because russian middle class grew in advertisement trade grew so it was investing in those kinds of businesses in telecom sector in other sectors that have been successful in russia and that's why the president in the. bank supervisory board decided to pick me for this position you promise profitability of these men investments in russia and you twenty percent but how is that possible if the growth of the russian economy is not more than ten percent is it isn't it a contradiction you know we believe that leaders of the russian business and lived in business in russia will grow dramatically and if you look historically in how much value has been created in russia in the billions and billions of dollars of

value in leaders have been growing at thirty forty fifty percent in russia so we'll be focusing on those lead in segments on some of the lead in businesses which will have two principal types of investment there will be an infrastructure investment which will generate maybe ten to fifteen percent a year much more stable much more predictable sort of less exciting you know businesses will have twenty five thirty percent rates of for churn which we believe we can generate in private equity businesses in private businesses that are growing very fast so in health care in pharmaceuticals a little bit less predictable but definitely with high growth potential i don't know if this is somehow has something to do with your appointment but recently the russian state television channels showed an american movie pretty old movie called other people's money shoot for a couple of times and this is this is like the iconic movie for the united states it's about it's about investing well. speaking about average growth this if you say

that that leaders grow to like more than twenty percent. and he won the average growth to go higher does that mean that you want less profitable businesses or profitable businesses to die and that will that will be good for your business no we believe that it will improve the statistics wouldn't we believe we will bring a lot so if efficiency into the russian economy so we will not only bring capital to invest which is very important but was our international partners will be know how in management practices that will allow efficient businesses to prosper and be successful and i think what's very important is it can petition is actually very good physically on i mean when businesses compete they become more efficiency because they bring more products so i think you know. it's very important to invest to build successful businesses and for lots of businesses to strive to be as successful as businesses where people invest and you mentioned the value of your

project so i know that by september you're planning to present a new projects which is a couple of months from now what will be the value of the projects you're going to present again we have to be very realistic we just basically finished for me as a management company on june first and we in the process of hiring key people and will be able to hire them closer to supply and bring october so in the investment process typically takes five to six months so i think we will realistically be discussing was co-investors some projects in pharma industry some projects in. utility infrastructure some projects in the health care sector and we believe that by cent of the year we'll do transactions of around five hundred million dollars but that is by the end of the year in september we're just starting discussions of some of the most interesting and exciting opportunities that we still need to value . wait and work together was all going vestment barcus to analyze and really figure

out so you still fishing but can you name us at least a couple of companies that are already on your hook that we can all that and actually that's a good thing about private equity industry was before the deal was done it's impossible to talk about the potential targets because a best case increases their valuation expectations and the worst case it just leads to too transactional being done because typically we're all in the hands once the transaction is finished rolls of paper signed and that's very important to look at have to invest in companies before you came to you to do these new fund are you dragging some of your partners from these companies through the give and actually we're trying to minimize people impact and actually we have very careful in selecting i would seem because a would want to take you know all of the people from a previous fund we also don't want to go in aggressive a higher weight people from all of the lead in funds and russia so we've been

actually quite successful in being very gentle in picking some key people from different firms was out sort of really offending them because we want them to be investment partners in the russian market we also became quite a few people was international backgrounds and we have one gentleman was fifteen year over experience and in private equity firm and the other one was ten years experience so we will not only have russian nationals we'll have a well rounded teams that will include international investment leaders as well you are quoted as saying a thing that may sound funny for of foreigners you saying that the russian economy is more predictable than most of the countries what makes you think so and what are the arguments because i'm sure that most of our viewers would say that if russian economy is predictable then then what's unpredictable there was this well i think you know it's actually a great question because when people read newspapers and saw all sorts of. or is

there is a basically betray russia in certain ways but those stories forget about some very key statistics very fundamental things so i'll mention just a couple russian debt is twelve percent of g.d.p. as compared to a hundred percent almost hundred percent in the united states and that's very important because we all know that countless was high debt such as greece and some other european countries are having major major problems because basically they spend more than they've accumulated and that creates tremendous amount of tension and i think we will see lots of this in the next coming months so that's very very good another statistic russian middle class tripled in the last five years if you look at households was incomes of forward ten thousand a year there was eleven percent of those households into solvent and five it's over thirty percent now so very few people know in this sort of think about says that russian middle class tripled in the last five years and the final number for you in the russian reserves the third largest foreign reserves some of the world so again

in the very volatile economy when lots of changes are happening lots of things to happen in heaven that question of money is actually a very safe and very positive thing to have so i think when balanced in a very volatile world if you look at the numbers if you look at statistics they actually speak pretty well about russia well my family's savings have tripled in the last year or two they were one hundred bucks today three hundred so they triple it is so sad statistics that there's thinks are are tricky may be cheeky. i've heard that the government will be a first investor that you'll be getting ten billion us from from the russian state is that true and why do you need government money yes. investment it's very important that international investors feels of they have a good partner in russia because when we traveled to the lead in the best reasons in world they said yes we believe in russia it's possible to generate good rates of return but to do that. when you depart for justice for example if you invest in

china or in india you could do it on your own but probably would be a good idea to get the local partners so you mean that the government is the only real reliable partner in this country well i think government is one of the key and most reliable partners since this country and i think government is making major initiatives to improve investment climate some russia so providing this capital to share risk his investors give them any guarantees but be their partner and core invest along is them is a basic idea behind the fund says q deal with dimitri you have had the russians direct investments spotlight would be back shows we will continue this interview so we take a break so stay with. forty

two thousand americans die each year accidents thousand and seven hundred thousand people. and thirty two thousand will kill themselves cancer in all its forms kills five hundred sixty thousand of us here part is easy the more devastating it kills over eight hundred seventy thousand americans every year.

welcome back to sport and i'm al green of in just a reminder that my guest on the show today is killed the myth that he had had of the russian direct investment fund we're talking about this new fund about about getting money to invest into russian economy how hard well the easiest part of your job i guess is to get those those couple of billion dollars from the russian government you said an interesting thing just with before we took

a pause you said that when the government becomes a partner in russia this attracts foreign investors because the part of the government is a reliable and a rich part but this is strange. you say that this attract government activity in your friend an economy here is attractive for foreigners but on the other hand they used to say the russian government is too active an economy the russian government doesn't let us do for free business on a free market we want less government attention and little less good government activity in the economy so so so where is the where is the limits and are there limits for for the government activities in the economy but it's a very good question and as a kid there's a proper balance so for example we will all be a font be able to take control and stakes as a companies so we'll be taking small minority. you know maybe

a block in positions of twenty five percent now together was al queda vestment partners would be able to have control but again it's not government having control it's us having the minority position but to get us going vestment partners given the major position you will be getting you believe the government many of this means you'll be under total government control. well yes and no because governments especially important so we will have a supervisory board which will be you know a kid decision making body for the fund and it's the actual include quite a few foreigners and governments will actually be you know an important part but not the control and part of that supervisory board and that's again very unique because the whole idea behind the fund is really to help fund generate returns that allow foreign investors to get those good returns and invest more down the road so it's less commercial and that's return focus and to it's possible with government really providing help but in the what driving all of the decisions and it's very

important because we had a big meeting with mr putin where investors management two trillion dollars for the present and asked a very specific and direct question mr puts and will use the funds to promote certain sectors of the economy to really do sort of government like things and he was very clear he wants a fund to generate good return and it was a fun generated churn will for sure it means girls businesses it means more employment opportunities it means innovation and with their new stations but your church comes first do you think that the government's come to be to you and make concrete people state will be pleased did you feel that union meetings with putin meeting medvedev and what could encourage the government to increase its contribution well it's very important that our business is very new to craddick kind of business what do you do to credit wants to have to do things so we either show good returns and we get more money there it's made out of the. turns and

you know we cannot raise any money in order to crack ticket in my language is city is that you know the students we need to produce results and it's very important i think there was a sense it could produce results if it produces good returns than. can be managed and even now you know it's a ten billion dollar commitment the first portion we get in this year's only two billion dollars and i think prior to this birth saying you know in the next eight billion the government will below can what kind of deals we're doing i was successful i would bring in a good investor is at the positive story being cranky does it mean avoiding the long difficult problem it's no i think it means really being focused on projects agenda or a good trip turns and then lead to creation of employment and other things but very much focused on returns because event of the day investors do not like projects was it was money and the whole benefit of investments is actually uniting my knee and

intelligent approach to businesses that can grow and the saw result produce good a good profit so i think it's a win win for the companies for investors for the government if you don't want to name you or possible partners can you tell me which industries are on the list of priorities way gun is where are you going to. put the money you get that i guess now not only in the with the gas production there's no you give us some examples we believe you know agriculture is really a great sector and russia is a great place for agriculture and you know has lots of agricultural businesses it's a growing dramatically but at the on the investment so really that agriculture is going to be very interesting to see today we understand it's of a circumstance that we should have our own cucumber is not exactly yes that's true and that you know agriculture prices increasing dramatically so agribusiness is very important health care again health care can be much more efficient and. can be

improved dramatically with proper investments i was four per and know how energy efficiency we all know that we are so much dependent on energy prices and there are all sorts of new energy efficient acknowledges that produce very significant cost savings so it's not venture projects it's not very risky early start or early stage projects so there's a project where we can see a sort of predictable cash flow and such as energy efficiency it will produce good results but also i would for the country it just crossed my mind the creation of your fund. trying to entrap more new or foreign investors promising good returns does it mean russia is looking at a new wave of massive privatization well privatization is definitely coming and it will be the largest privatization in the history of russia actually and there are a number of businesses that are being put up for sale and that's very positive because it shows that government again wants to play

a lesson for all in the economy and obviously we will also below can improve its ization projects and i think it's very important that the main international investors main international funds are competing to participate in those projects because of the price goes up and that's good for the government you mentioned agriculture you mentioned health care this of course are the priority industries where russia wants investment to flow but. what are the what are the industries that. foreign investors themselves are interested in in russia see and that's again a very key question because we didn't define those priorities just by what russian government wants we actually went to leaders of investment funds in the world and they asked for example people in the arab world what kind of industries would you consider attractive in russia and they actually did mention agricultural health care and let's see if they're russian the russian deputy head of the central bank mentioned. the necessity of attracting the arab capital in the capital from arab

countries to russia why such special attention to this part of the world to arab money well there is first of all quite a bit to live as it is being managed and for example i would be investment authority to manage to manage just over six hundred billion create investment office managers over two hundred fifty billion and we've been in discussions with both of them and they're very much interested was what russia has to offer and we believe that russia offers awards of interesting investment opportunities to arab investors but they were just not so much focused on the region they preferred to invest in other parts of the world so being able to attract them as well as china and european funds and american funds is actually good for the russian economy in the one of his speeches one of his recent speeches as a matter of fact prime minister putin promise that he would be protecting foreign

investors and i think he even said personally taking care of foreign investment is it enough to convince foreigners that the money in your hands are safe well i think once again that had a very positive meeting with mr poets and they came very and they're just and very much focused on specific sectors following that meeting so i think it was very important for them to hear that message because that's a very important message for them to hear but in addition there are all sorts of institutional efforts that they can place and to fund this one of those efforts and given proper governance having success stories will contribute to the story so i think it's very important for them to hear the message but the example of the day they will be happy once they reach a dollar now and takes three dollars you know four years from now that's basically what will make them you know really happy this side it's growing and helping to grow russia and keep computers i'm sure for an investment in. size zero and gas of

course which is which is a special issue i'm sure they foreign investors would like to invest into aggression the high tech industry because because it is growing because it is a government priority and we just talked about it that if you get those investments if people will be ready to give you the many can you guarantee that you have in russia enough specialists enough people to guarantee that these investors that this money going to work well we believe that high tech is really the key industry in russia and again the i.p.o. which was one of the largest long more successful high tech i.p.o. shows there is major promise in russia major promise in russia because very talented very sophisticated programmers and people russia is one of the most educated countries in the world with a keyboard as we believe it's possible to make very good returns they're definitely going to be investing but we're not guaranteeing anything it's very important we share risks we're putting our money in projects we believe return is going to be

good and we're sharing that risk and that returns at the preacher interviews as investors so yes we believe that high tech is a great market to invest in but we will not be providing any guarantees we believe that investors will know it's a good sector to invest and they will be invest in there ok and just just to conclude to conclude this interview. is it dry the impression i got from talking to you and i think the views on this and that one hundred percent of these the investments coming through your fund from abroad will be guaranteed by the russian government is not true you know there are a lot bigger into it again we are quite invested with them so we believe we'll make good return and if i'm a good return on mine it doubles in like three four years if we don't make good return and will lose money we'll lose the money an international best result follows the money but all of us little do everything in our power and repudiation is very. it was sent to the russian government that will be making successful

investments but it's very important that they make independent decisions we make independent decisions and together we make very good profitable investments in russia so you promises to be fun thank you very much thank you thank you for being with us and just to remind you that my guest today was killed me please tag probably russian direct investment and that's it for now from all of us if you want to have your say so far or have someone in mind who you think might get into the next time you drop me a line and how they're not. on the need and that's good but like to interact we'll be back with more who don't comment on what's going on in and outside russia until then stay on our team and take care.

in india oh she's available in the movie joy see photos. of the gateway hotel the grand imperial truly told west coast. socialist you

see don't need to go and. read this in the kernel was her job as a retreat. russian billionaire alexander lebedev expresses interest in buying the news of the world shot by media tycoon rupert murdoch over the phone hacking scandal has engulfed the british prime minister david cameron given a grilling in parliament over to ties with sprays to news corp executives. serbia has captured the last fugitive war crimes suspect from the one nine hundred ninety three percent of conflict a move belgrade hopes will pave the way to remember. and colonel gadhafi is resignation is not an option says that the libyan foreign minister speaking after meeting with his russian counterpart in moscow. and up next the alyona show which asks if the phone hacking scandal has ended the reign of rupert murdoch and looks

at some of the stories the mainstream media in the u.s. doesn't want to cover. for the. we've got. the biggest issues good human voice ceased to face with the news makers. welcome the loner show where the real headlines with none of the mercy can live out of washington d.c. now today will take another look at the phone hacking scandal that engulfed a news corp including rupert murdoch's testimony to the british parliament yesterday was that performance the real end of his career robert greenwald the brain in film stories that's also yet another statement by a u.s. official has been found to be blatantly wrong so we're going to tell you what it is when we speak with glenn greenwald and eric schwartz has been arrested for

downloading millions of documents from jay store on mit's network and could face up to thirty five years in prison we're going to speak about the debate over open access but first let's take a look at what the mainstream media has decided to miss. a g.o.p. presidential candidate michele bachmann is surged to the number two spot in a new poll right behind mitt romney and just like all presidential campaigns this one's getting dirty and anonymous former bachmann staffer told the daily caller that michele bachmann suffers from migraines and what do you know the mainstream media has just gone absolutely crazy over it. is surging in the polls but consider your migraines affect michele bachmann's ability to leave the bachmann campaign this is a first big challenges and it's evidence of what happens when you jump up into the top ring of these all these polls this story gain some traction after anonymous bachmann aides detailed years.