The Russian holding Interros and the American International Group (AIG) have signed an agreement on strategic partnership for investments in Russia and CIS member states, Interros reported. The first joint project of the two companies will be the creation of an investment fund with $300m in capital. Each party is expected to contribute at least $50m to the fund, which is to start operating in the middle of this fall.
Moreover, AIG and Interros have decided to create an investment fund in the real estate sector, which will operate in Moscow and other large real estate markets in Russia. The fund's capital will amount to about $200m to $250m. Its activities are planned to start at the end of this year.
The signing of the agreement on strategic partnership was due to the improvement of the investment climate in Russia and the introduction of international standards of corporate management in many Russian companies, Interros noted.