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The Indonesia Investment Authority (INA; Indonesian: Lembaga Pengelola Investasi, lit. 'Investment Management Agency', LPI) is the sovereign wealth fund of Indonesia. The INA was founded by the Indonesian Government in 2021 to strengthen the country's economy by diversifying into new asset classes.[2] INA was launched in February, 2021, with a target of managing $24.5 billion of assets. Unlike sovereign wealth funds of other countries which manage excess oil revenues or foreign exchange reserves, the INA seeks foreign funds as co-investors to finance the country's economic development.[3]
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Native name | Lembaga Pengelola Investasi |
|---|---|
| Company type | Sovereign wealth fund |
| Founded | February 2021 |
| Headquarters | Prosperity Tower, , |
Key people | Ridha D. M. Wirakusumah (CEO) |
| Revenue |
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| |
| Total assets |
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| Total equity |
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| Owner | Government of Indonesia |
| Website | www |
| Footnotes / references [1] | |
INA had received commitments of up to $10 billion prior to its launch from global companies and agencies such as the U.S. International Development Finance Corporation and the Japan Bank for International Cooperation, as well as a few foreign pension funds.[4] The Indonesian government will support the fund with $5 billion in cash and other assets. The United Arab Emirates has announced a plan to invest $10 billion in INA [5]
According to Ministry of Foreign Affairs of Indonesia, INA has reached agreement with DP World from United Arab Emirates to develop and improving the infrastructures of Port of Belawan, Medan.[6] This cooperation also involved Prima Terminal Petikemas Ltd, a subsidiary of Pelindo.[6]
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In 2021, INA has reportedly become a Full Member of the International Forum of Sovereign Wealth Funds non profit organization.[7]
INA reports directly to the President of Indonesia. The supervisory board is headed by the Finance Minister, the State Owned Enterprises Minister is also a member of the board.
Board of directors
- CEO - Ridha Wirakusumah[8]
- Deputy CEO - Arief Budiman
- Investment Director - Stefanus Ade Hadiwidjaja
- Risk Director - Marita Alisjahbana
- Finance Director - Eddy Purwanto
Supervisory Board
- Chairwoman and Supervisor - Finance Minister Sri Mulyani (ex officio)[9]
- Supervisor - State Owned Enterprises Minister Erick Thohir (ex-officio)
- Supervisor - Darwin Cyril Noerhadi
- Supervisor - Yozua Makes
- Supervisor - Hariyanto Sahari
| Investment | Sector |
|---|---|
| Mitratel | Telecommunications |
| Traveloka | Digital |
| Kimia Farma | Pharmaceutical |
| Pertamina Power Indonesia | Energy industry |
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