Mubadala Investment Company is part of consortium which buys 22.5% stake in Russian Fitness Group
A consortium of investors including Abu Dhabi's Mubadala Investment Company have announced investments in Russian Fitness Group (RFG), which manages the largest chain of fitness clubs in Russia under the World Class brand.
The consortium, which also includes the Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund, has acquired a 22.5 percent stake from VTB Capital.
RDIF, Mubadala and co-investors intend to strengthen its position in various markets and to promote healthy lifestyles in Russia.
Kirill Dmitriev, CEO of the RDIF, said: "The World Class chain is dynamically developing, and we together with our partners intend to actively contribute to the further realization of the company's leadership potential.
"Through both this project and the mixed martial arts (MMA) company UFC Russia, which was established in partnership with Mubadala, RDIF is promoting the development and popularization of sports in Russia."
Russian Fitness Group operates World Class and World Class Lite fitness clubs chains. Today it is the largest fitness corporation in Russia operating 39 own and 46 franchised clubs in 34 cities.