Russia-China investment fund to partner with Saudi's Public Investment Fund

As part of the agreement, Saudi's PIF will contribute $500 million to the investment fund.

Russian sovereign wealth fund RDIF said on Thursday that Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF) would become a new partner in the joint Russia-China Investment Fund.

As part of the agreement, Saudi's PIF will contribute $500 million to the investment fund, raising its total capital under management to $2.5 billion, Russia's RDIF added in a statement.