Goldman Sachs in Kremlin investment fund talks

AP News
Posted: Mar 15, 2011 6:08 PM
Goldman Sachs in Kremlin investment fund talks

President Dmitry Medvedev has held talks with Goldman Sachs chief Lloyd Blankfein about the bank's possible participation in a direct investment fund the Kremlin is looking to create to attract foreign capital.

The Kremlin said Blankfein visited Medvedev on Tuesday to discuss the idea of a fund, which Medvedev first raised at the World Economic Forum in Davos in January.

There was no other information on the meeting, the size of the possible fund, or when it would be introduced.

Goldman Sachs couldn't be reached for comment.

Russia suffers from chronic underinvestment, prompting its leaders to frequently advertise the country as a haven for foreign capital. Would-be investors regularly point to persistent corruption and impenetrable bureaucracy as reasons they look elsewhere.