but you know so joe peer to hotel surely will do a boutique hotel manager mark thompson. in serbia is available in moscow and hyatt regency. our five thirty pm here in the russian capital this is our to recap now of our top stories battleground tripoli heavy fighting goes on in the libyan capital those rebels bombard colonel gadhafi compound backed by nato airstrikes rebel it claims that they controlled most of the city and captured could apheresis son saif have proven incorrect. secret assistance british intelligence has reportedly planned the endgame for cleanup is regime guarding the rebels in their push on tripoli more u.k. and military personnel are said to be on standby in the mediterranean to boost the . ego e.u.

all giants flooded back to libya on a red carpet laid out by a self-proclaimed new government to reward those who helped oust gadhafi it's really not of the debate over nato as a real motivation for intervening. libyans or join in jubilation anticipating gadhafi is full but skepticism that may be too early to celebrate is just as widespread analysts point to the post revolution of course he in nearby egypt which has yet to turn over power to the people. in half an hour's time but for now it's our interview show spotlight in just a. well we'll. bring you the latest in science technology from the realms. we've done the future coverage.

with. hello again to walk them to start a light at the end challenge part i'll bring our friends today my guest in the studio is killed in the need to show how the world economic forum in st petersburg president is new to the music business launched an investment fund aimed at healing the country's economy with borrowed money innovative businesses and high tech manufacturers stand among the main recipients of the promised contract to fulfill them precious government the president sent to one of the iconic figures are russell best in the market to spurt out of the profits but where will the money be coming from here's the head of the russian direct investment fund he'll meet the. recently created russian direct investment club was bankrolled spurs projects and

a couple of months after a billion dollars will go towards medicine pharmacy agriculture an important place to deputy head of the russian central bank says much of this money will probably come from the middle east because funds still has much work to make everyone believe their investments in question will be sick. leave. and been clear welcome to the show thank you for coming well first of all i want to call ask you what makes you or for the new fund that you're having a different from other investment funds that are existing in the country. people have been investing into the russian economy for a long time sure sure one of the key features disappoint us from the future so we will not be able to invest any money in a need business unless there is at least the same amount of the investment 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 it 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 you that which is that what was so special about this company what was so special about the job you did there that made you fit bear for the need and 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 me good investments but they have good have exists so i believe in two firms one is built a private equity another in. private equity and we've really been very successful in making investments in financial services sector in we just service sector in the sector since the economy so i'll give you an example when i was a delta we invested in one of the you know small media companies of that time

called c g c media which is now one of the largest entertainment empires in russia and the value grew from fifteen million when we invested in the business to over three billion right now because russian middle class grew and 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 and the michigan own bank supervisory board decided to pick me for this position you promised profitability of business investments in russia up to. and you twenty percent but how is that possible if the growth of the russian economy is no more than ten percent is it isn't a contradiction now we believe that leaders of the russian business and region business in russia will grow dramatically and if you look historically in how much value has been created in russia you know it was you know billions and billions of

dollars of value and leaders have been growing at thirty forty fifty percent in russia so will be four percent of those leading segments and some of that leading businesses will have two principal types of investment there will be an infrastructure investment which will generate may depend to fifteen percent a year from a stable much more predictable sort of less exciting you know businesses will have twenty five thirty percent rates of return which we believe we can generate in private equity businesses and private businesses are growing very fast so health care in from a sort of course 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 who could move the pretty old movie part of the people's money machine 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 growth this if

you say that that leaders grow like more than twenty percent. and you want the average growth to go higher this is that me you want less profitable businesses more unprofitable businesses to die and that will that will be good for your business you know we believe that it will improve the statistics were that we believe we will bring a lot of efficiency into the russian economy so we will not always bring capital to invest which is very important but was our international partners will bring the hauen management crack. so it will allow efficient businesses to prosper and be successful and i think what's very important there's of competition is actually very good for the economy when businesses compete they become more efficient he becomes even more products so i think you know. it's very important to invest to build successful businesses and for lots of businesses still strive to be as

successful as businesses were people invest in you mentioned the value of your project so i knew that by september you're planning to present a new projects which is couple of months from now what would be the value of the projects you going to present if you know we have to be very realistic we just basically finished her mission 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 quite investors some projects in pharma industry some projects in. utility and infrastructure some projects in the health care sector and we believe that by example of the year we'll do transactions of around five hundred million dollars but that is by the employees a year in september we're just starting discussions of some of the most interesting and exciting opportunities that we still need to evaluate and work together with

our point vestment part of to analyze and really figure out so you still fishing but can you name as least a couple of companies that were already on your we cannot and actually that's a good thing about private equity industry as a before the deal is done it's impossible to talk about the potential targets because a best case increases their valuation expectations and it's worst case it just leads that to transactional been done because typically we're all in on this once the transaction is finished or the paper signed them that's very important lucrative to invest in companies before you came to. to introduce a new friend are you dragging some of your partners from these companies to the actual we're trying to minimize people impact and actually we were very careful in selecting i would seem because a would want to take in all of the people from the previous fall and we also don't want to go in aggressive we'll hire way people from all of the lead in france and

russia so we've been actually quite successful in being very gentle in pekin some key people from different firms was out sort of really offended them because we want them to be going bussmann partners in the russian market we also became quite a few people was international backgrounds and with one gentleman was fifteen year over experience in luton private backwards or 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 were quoted as saying a thing that the sound funny for foreigners you saying that russian economy is more predictable than in most 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 what's unpredictable that business well i think you know it's actually a great question because when people read us papers and saw all sorts of stories

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

reserves third largest foreign reserves on the world so again and a very volatile economy with lots of changes to happen a lot of things that happen in heaven that question of money it's actually a very safe and very positive thing perhaps so i think on balance in a very volatile world if you look at the numbers if you look at statistics there actually has been pretty well about russia well my family's savings have tripled in the us you too they were one hundred bucks today three hundred so they triple is so so statistics that things think sort of are tricky maybe tricky said i've heard that the government will be a first investor that you'll be getting ten billion us from throw from the russian state is that true and why do you need to have many yes. investments it's very important that international investors fields of the have a good partner in russia because when we travel to the lead in the best person in the world they said yes we believe in russia it's possible to generate good rates of return but to do that we need

a partner 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 they need that the government is the only really reliable partner in this country well i think the government is one of the key and most reliable partners in this country and i think government is making major initiatives to improve the investment climate from russia so providing this capital to share risk because investors will give them any guarantees but be their partner and core invest in long as there is a basic idea behind the fund says keels didn't actually have had their. direct investments scott life would be back shows new consumer centric new cars so we'll take some great self to stay with us don't touch. the butler.

twenty years ago the largest country in the slums certainly sensible. mums have been among the touch began a journey. where did it take them. at.

least. welcome back to support and i now do not in just a reminder that my guest on the show today is the nuclear you have had are the russian direct investment fund we're talking about this new fund about about getting money to invest into russian economy how hard is it 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 before we took a pause you said that when the government becomes a partner in russia this attracts foreign investors because the government is a reliable and rich part but this is strange. you say that this

attract government to see in your friend in economy here is attractive for foreigners but on the other hand they used to say the russian government is too adds 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 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 company but it's a very good question and as a key here's a proper balance so for example we will not be a suppliant be able to control in states as a compass so will be in small minority positions you know we would walk in positions of twenty five percent now together with our core investment partners we would be able to have control but again it's not government's current control it's ours here in a minority position but again the risk or investment purpose given the major

position you would be getting the billions of government money this means you would be under total government control you well yes and no because governments are very important so we will help a supervisory board which will be you know your decision making body for the fun and the actual in called. but if you foreigners and governments will actually be you know in important part but not to control and particles and supervisory board and that's again very unique because the whole idea behind the problem it's really fun generally bush returns and allow foreign investors to get those goods returns and invest more down the road so it's best commercial and the search and it's possible with government really providing help but what driving all of the decisions and it's very important because we have a big meeting with mr putin where investors manage and pull trillion dollars from a present and zest a very specific and direct question mr portugal use of funds to promote certain

sectors of the economy to really do sort of government like things and she was very clear it was a fun project for a good return and it was upon generated which return will for sure it means girls businesses it means more employment opportunities it means innovation and with their decision which actually comes first do you think that it's the government's come to be able to fund me concretes some people say he's did you feel that union meetings would put into meeting their video and what could encourage the government to increase this contradiction well it's very important that our business is very new to craddick kind of business unit picture that it wants to be so we either show good returns and we get more money now you know where it's meant to be more we're going to returns and you know we cannot raise any money didn't crack ticket in my language this is not true of the students we need to produce results and it's very important i think there was a sense if you produce results you could produce good returns then no money can be

managed and even now you know it's a ten billion dollar commitment the first portion to get in this year salute two billion dollars and i think prior to this birth saying you know in the next billion the government will be looking what kind of deals we're doing i was successful i would bring. industriousness of the positive story being cranky does that mean avoiding a long difficult projects no i think it means really being focused on projects that generate good returns and then lead to the creation of employment and other things but very much focused on returns because examples of the investors do not like projects with hills money and the whole benefit of investments is actually uniting my knee and intelligent approach and businesses that can grow and the saw results produce good good profits 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 point news can you tell me which industries are on the list of your priorities way you go and where are you going to. put the money you get that i just know not only you know where the gas production is an old you know 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 it has lots of pedigree cultural businesses are growing dramatically but the on the investment so it really is a beggar culture is going to be a very interesting question and today we understand it's a circumstance that we should have our own keep. it's true and that you know agriculture prices are increasing dramatically so agribusiness is very important health care and again health care can be much more efficient and can be improved dramatically with proper investments i was four per in the how energy efficiency we all know that we are so much dependent on energy prices and for all sorts of new energy efficient technologies that produce very significant cost savings so it's

not venture projects it's not very risky early start those early stage projects so there's a project where we can see sort of predictable cash flow and such as energy efficiency that will produce good results but also good for the country it just crossed my mind the creation on fuel for. weren't. trying to entrap more than were foreign investors promising good returns this is me russia is looking at a new wave of massive privatization privatization is definitely coming and it will be the largest provinces ation in the history off russia actually and there are a number of businesses there being pulled up for sale and that's very positive because it shows the government again wants to play a lesson for all in the economy and obviously we're also building kind of privatization projects and i think it's very important that mean international investors mean international parts are competing to participate in source projects

because i'm surprise 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 follow but. what are the what are the industries that. foreign investors themselves are interested in russia and that's again a very good 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 track to from russia and they actually did mention agricultural health care and let's see if the russian the russian deputy head of the central bank mentions the necessity of attracting the arab capital and capital from arab countries to russia why such special attention to this part of the world to arab

money well there is a first of all quite a bit of light is that has been managed in for example abu dhabi investment authority to manage and manage a sort of six hundred billion quid investment office managers over two hundred fifty billion and we've been in discussions with both of them and they're very much interested because 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 as the region they preferred to invest in other parts of the world so being able to attract them as well as china and european finance and american france 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 promised that he would be protecting for investors and i think he even said personally taking care for investors is enough to convince foreigners that their money in your hands are safe well i think once

again we could have very positive meeting with mr porter and we came very energized and very much for course 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 are taken place and the font is one of those efforts and given proper governance kevin success stories will contribute to the story so i think it's very important for them because the message with example of the day they will be happy once they return a dollar now and pay three dollars you know four years from now that's basically what will make you know really happy this science growing and helping to grow russian cucumbers i'm sure for an investment in the size of gas of course which is which is a special issue i'm sure the foreign investors would like to invest into the russian high tech industry because because it is growing because it is a government priority and we just talked about it but 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 and enough people to guarantee that these investors get this money going to work well we believe that high tech is really. the key industry in russia and young because i p o which was one of the largest noise 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 but the key word is we believe it's possible to make very good returns they're definitely going to be investing but we're not giving keen anything it's very important we share risks we have put in our wine and projects we believe return is going to be good and we are sure in their tree it's going to return to the preacher and he was an investor so yes we believe that the high tech is a great market for investment but we will not be providing any guarantees and we

believe that investors will know it's a good sector to invest and they will be invest in that ok and just just to conclude to conclude this interview. is that right the impression i got from talking to you and i think the views of those that one hundred percent are these the investments coming through your fund from abroad will be guaranteed by the russian government is not true you know there's a lot be guaranteed they're going to be a coin investing with them so we believe we'll make good return and if i'm a good to churn out mind it doubles in like three four years if we don't make good return and lose money we'll lose the money and international business also lose a money but all of us little do everything in our power and repudiation is very important to us until 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 promise it to be for thank you thank you thank you for being with us and just to remind you that my guest today was healed had probably rushing to the face and that's it for now from all of us if you want to have your same spot or someone in mind for you think it into the next time it's up to me a line intelligent enough. party t.v. darts are unique in that skit but like interact only perhaps more personal comments are what's going on in and outside russia until then stay on our team and take. the lead to. play.

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