Abu Dhabi seeks exposure to Russian growth

While they have piled into Brazil, China and India since the financial crisis, Middle Eastern investors have tended to avoid Russia, deterred by the country’s poor reputation for corporate governance and transparency. But in a sign that the tide may be turning, Mubadala Development Company, part of Abu Dhabi’s sovereign wealth fund, has invested $100m in Verno Capital, one of the biggest Russia-focused hedge funds.