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May 31st, 2007
Mikhail Prokhorov, a Russian billionaire and former director general of metals giant Norilsk Nickel, announced Thursday the launch of a $17 billion private investment fund.
The new fund, Onexim Group, set up using Prokhorov's stake in Norilsk Nickel (22%), holding company Interros (50%) and gold producer Polyus Zoloto (22%), will focus on innovation projects in traditional and hydrogen-based energy, nanotechnology and the mining and metals industries.
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