Indonesia Investment Authority
We build long-term value by partnering with reputable global investors who share our vision for Indonesia. Through disciplined, long-term capital deployment aligned with national priorities, we aim to drive impact beyond investing. Together, we back resilient sectors, strengthen local capabilities, and drive sustainable progress.
The farther we go, the more we realize that this journey is not about knowing all the answers from the start, but about having the willingness to keep learning and growing. The more we learn, the more we realize how much we still don’t know.
Dr. Ridha D. M. Wirakusumah
Chief Executive Officer
Indonesia Investment Authority (INA) is Indonesia’s sovereign wealth fund. It was established to strengthen the country’s economic foundation and build long-term value for future generations.
INA was established in December 2020 as a sui generis institution, a unique legal entity that operates independently from government bureaucracy while remaining accountable to the state. The legal foundation of INA’s governance is stipulated in Law No. 11 of 2020, which was repealed and replaced by Law No. 6 of 2023 on the Enactment of Government Regulation in Lieu of Law No. 2 of 2022 on Job Creation into Law, and Government Regulation No. 74 of 2020 on Indonesia Investment Authority. This structure enables INA to combine the discipline of public oversight with the agility of a professional investment firm.
INA invests with purpose, focusing on sectors that are vital to Indonesia’s development. These include transportation, logistic, and infrastructure; digital; green and blue economy; healthcare; and advanced materials. Its partnerships with global and local investors are guided by long-term strategy, strong governance, and prudence in every investment decision.
Creating Lasting Impact for Generations to Come
At INA, we invest to drive Indonesia’s long-term transformation, catering essential needs, creating lasting value, and building a resilient, sustainable future with real-world impact.
Our Progress
Laying the Groundwork, Building Forward
27 January 2021
Appointment of INA’s Supervisory Board
26 February 2021
INA received the first cash capital injection of IDR 15 trilion
21 May 2021
MOU of Platform for toll roads worth USD 3.75 bilion with CDPQ, APG, and ADIA
November 2021
INA becomes the anchor investor at Mitratel IPO with GIC, ADIA, and ADG
12 November 2021
Realization of second phase of the State Equity Participation amounted to IDR 15 trilion
23 December 2021
Realization of third phase of State Equity Participation in in-kind (inbreng) shares worth Rp45 trillion. As of the end of 2021, INA's total capital was Rp75 trillion
21 February 2022
INA and Waskita Karya have signed a heads of Agreement regarding INA's Investment plans in several Trans Java toll roads
4 July 2022
Signing of an Investment Agreement with Silk Road Fund (SRF) with a potential investment value of up to -MYR 820 billion (USD 3.2 billion)
20 August 2022
Signing of a core investment agreement and the operation of Belawan New Container Terminal (BNCT) between a consortium of INA companies and Pelindo
6 September 2022
Signing of a Transaction Settlement Agreement with PT Waskita Karya and PT Waskita Toll Road for two lanes of Trans Java toll roads
29 September 2022
Traveloka, a prominent online travel agency in the local and regional market, received financial backing of USD 300 million from INA, Blackrock, and other major international financial institutions
6 December 2022
An investment cooperation framework has been signed with the investment Fund for Developing Countries (IFU) to explore investment oppurtunities that promote the shift to renewable energy and foster social development that is inclusive in Indonesia
29 September 2022
Traveloka, a prominent online travel agency in the local and regional market, received financial backing of USD 300 million from INA, Blackrock, and other major international financial institutions
6 December 2022
An investment cooperation framework has been signed with the investment Fund for Developing Countries (IFU) to explore investment oppurtunities that promote the shift to renewable energy and foster social development that is inclusive in Indonesia
24 February 2023
INA and Masdar announced the first investment in the green energy sector through participation in the initial public offering of PT Geothermal Energy
23 June 2023
INA and the DPWorld consortium signed a shareholder agreement for the investment and operation of Belawan New Container Terminal (BNCT), aiming to transform BNCT into Indonesia's maritime gateway
9 August 2023
INA and Pollination collaborate to explore the potential of nature-based solutions in Indonesia.
27 September 2023
INA and SK PLASMA signed a Term Sheet to build the first plasma fractionation facility in Indonesia.
9 November 2023
INA and Development Bank of Japan Inc. (DBJ) announced collaboration to promote the growth of Indonesia's financial landscape through the utilization of hybrid capital solutions.
6 February 2024
Fitch has assigned INA's first international credit rating of BBB (outlook: stable) and a national credit rating of AAA (idn). This investment-grade rating reflects INA's central role as Indonesia's sole sovereign wealth fund, which serves a vital role in facilitating key policy initiatives and driving the nation's economic progress.
3 April 2024
INA and Global Infrastructure Partners (GIP) have entered into a strategic collaboration aimed at strengthening infrastructure development in Indonesia. This partnership marks a significant step by combining INA's deep insights and domestic market network with GIP's extensive global infrastructure expertise.
14 August 2024
PT Pertamina Bina Medika IHC (IHC) held a Closing Ceremony to mark the completion of the transaction with its strategic partners, INA and Swire Pacific. This milestone represents a strategic step in the Company's transformation journey aimed at enhancing healthcare access and quality across Indonesia.
8 October 2024
Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan officiated the investment partnership between INA Consortium and Changzhou Liyuan for a Lithium Iron Phosphate (LFP) Cathode production facility.
24 October 2024
INA's toll road platform, which involves investments from APG Asset Management (APG) and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), has expanded its portfolio with the addition of the Solo-Ngawi, Serpan (Solo), and Balikpapan-Samarinda toll road segments. The transaction follows INA's first investment in the Trans-Java Toll Road, which includes the Kanci-Pejagan-Pemalang sections of the Trans-Java Toll Road.
15 November 2024
INA and SK Group, a South Korean conglomerate, signed an investment framework agreement in Indonesia's first plasma fractionation facility.
10 December 2024
The investment made by a consortium led by INA and the Abu Dhabi Investment Authority (ADIA) and Dutch pension fund investor APG Asset Management N.V. (APG) in the Trans-Java Toll Road segments of Kanci-Pejagan and Pejagan-Pemalang has received two International Finance Awards, which were named "Transport Acquisition Deal of the Year 2024" and "2024 Investor Awards and 2024 Best Transaction in Best Infrastructure Deals in Southeast Asia" at the 2024 International Achievement Awards.
16 February 2021
Appointment of INA’s Board of Directors
23 March 2021
Supervisory Board Regulation regarding INA Governance Guidelines issued
24 May 2021
- INA becomes an Associate Member of the IFSWF
- MOU of CO-Investment with BPJS employment
31 October 2021
SAA with DP World for Maritime Logistics Sector with Investment commitment value worth USD 7.5 bilion
6 November 2021
Joint investment Framework with ADG with investment commitment value of USD 10 bilion
22 November 2021
First investment - INA becomes anchor investor of Mitratel’s IPO together with GIC, ADIA and ADG
February 2022
Signing of Heads of Agreement for investments in Trans-Java and Trans-Sumatra Toll Roads
14 April 2022
INA and Hutama Karya have signed a heads of Agreement, outlining INA's proposed investment plans in several Trans Sumatra toll roads. The commencement of a transaction between INA and a Waskita subsidiary for specific toll roads in Trans Java has been confirmed
16 August 2022
Signing of a term sheet with Silk Road Fund (SRF), Kimia Farma, and Kimia Farma Apotek
27 August 2022
- Signing of a bridging facility between INA and PT Semesta Marga Raya (SMR) and PT Pejagaan Pemalang Toll Road (PPTR)Settlement of a purchase transaction of Trans Java toll roads (signing of a buy-sell option)
- Signing of a syndicated loan facility for investment in Trans Java toll roads
20 September 2022
INA becomes a Full Member of the IFSWF
14 November 2022
Signing of Memoranda of Understanding with CATL
20 September 2022
INA becomes a Full Member of the IFSWF
14 November 2022
Signing of Memoranda of Understanding with CATL
23 February 2023
INA and the Silk Road Fund (SRF) announced the Completion of the Investment Transaction in PT Kimia Farma Tbk and PT Kimia Farma Apotek
29 May 2023
INA, ESR, and Mitsubishi Corporation collaborate to maximize investment opportunities in modern warehousing in Indonesia.
27 June 2023
- INA and Hutama Karya completed the Trans Sumatera toll road investment transaction to accelerate the growth of the Sumatera region.
- Signing of a credit agreement between BRI and investment subsidiaries (PT Medan Binjai Toll and PT Bakauheni Terbanggi Besar Toll) with a total financing of IDR 6 trillion for INA'S investment in the Trans Sumatera toll road.
1 September 2023
INA and GDS collaborate on a data center platform investment to meet the dynamic digital consumption needs and advance the digital infrastructure landscape, not only in Indonesia but also in the surrounding region
18 October 2023
INA and GDS officially formed a Joint Venture aimed at promoting the development of Indonesia's digital infrastructure.
10 January 2024
INA, Dutch pension fund investor, APG Asset Management N.V. (APG), and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), announced an investment in the Trans-Java Toll Road segments of Kanci-Pejagan and Pejagan-Pemalang, which was completed at the end of December 2023.
6 February 2024
INA and Manulife Investment Management announced a strategic partnership focused on infrastructure development in Indonesia and the exploration of investment opportunities in the real estate and natural capital sectors.
28 June 2024
The Australian Embassy and INA have partnered to enhance cooperation and investment in Indonesia by signing a Memorandum of Understanding (MoU) to support Australian investment into Indonesia.
23 September 2024
INA and Allianz Global Investors have entered into a collaboration to explore investment opportunities in Indonesia. Formalized through a Memorandum of Understanding (MoU),
22 October 2024
INA and DB Investment Partners (DBIP) have established a strategic partnership to invest USD 1 billion in Hybrid Capital Solutions investment opportunities in Indonesia. The collaboration was formalized through an Investment Framework Agreement (IFA), aimed at accelerating economic growth and development in Indonesia.
4 November 2024
INA and Granite Asia have announced a strategic partnership aimed through an Investment Framework Agreement (IFA) to invest in accelerating digital transformation and supporting the growth of Indonesia's emerging technology ecosystem.
2 December 2024
INA and Norfund, Norway's investment fund for developing countries, have signed an Investment Framework Agreement (IFA) aimed at exploring investment opportunities in Indonesia, with a specific focus on shared commitments in both renewable energy and sustainable development in the areas of renewable energy, infrastructure, and green infrastructure.
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Values of INA
We are guided by Integrity, Responsibility, Innovation, Symbiotic Collaboration and Excellence.These values inform our decisions as we work towards a better Indonesia.
Our Responsibility
We believe in investing responsibly to secure the long-term futures of all Indonesians and success for our investment partners.
Assets Under Management
Assets Under Management
The Government of Indonesia has injected initial capital of USD 5 billion into INA. The capital in the form of cash was distributed in February 2021 (amounting to USD 1 billion) and November 2021 (amounting to USD 1 billion), while the Government's transfer of shares of two state-owned enterprises happened in December 2021 (amounting to USD 3 billion).
As part of our investment strategy and mandate, INA is looking to collaborate with credible investors, global and local, to invest in assets in Indonesia. Together with our investor partners.
Our People
We bring together our most experienced people to work with the highest standards of accountability and governance.
The Supervisory Board comprises people with deep expertise around investment, legal and regulatory issues, corporate governance, and risk management – all with international exposure.
Meet Our Supervisory Board
The INA Board of Directors comprises experienced professionals from leading institutions and corporations with the required mix of skills for a successful investment fund.
Meet Our Board Of Directors
