Russia and CIS-focused private equity firm Baring Vostok Capital Partners and Russian sovereign wealth fund Russian Direct Investment Fund (RDIF) have announced a US$48 million joint investment in newly issued shares of Australia-listed Tigers Realm Coal (TIG), a company with coking coal assets in Russia’s Chukotka province. Baring Vostok, structured through Baring Vostok Private Equity Fund V, will invest US$33 million, while RDIF will contribute US$15 million. Additionally, the current shareholders of TIG will have the right to invest up to US$8.7 million. Following the transaction, RDIF will hold an 11 percent stake. TIG intends to use the funds to complete a bankable feasibility study to further develop a deposit in Chukotka, as well as to continue exploration.