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Kremlin Fund in Talks

NEW YORK — The private equity fund being set up by President Dmitry Medvedev is in talks with a Chinese group about making joint investments, details of which may be announced in October, Kirill Dmitriyev, head of the Russia Direct Investment Fund, said in an interview Thursday.

"Everybody understands that Russia needs to compete for foreign capital. It needs to be attractive for foreign capital, and it needs to be a better communicator," Dmitriyev said.

The fund is in talks with a European pharmaceutical company and a sovereign wealth fund about a potential $1 billion investment, he said.

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