Read the latest news from INA and all of the official press releases.
Indonesia’s INA aims to make up for delayed investments in H2, says CIO
Indonesia Investment Authority (INA), Indonesia’s IDR144 trillion (USD8.9 billion) sovereign wealth fund, aims to close a substantial number of investments in the second half of 2025, making up for several projects delayed earlier in the year due to global instabilities.
“In the first half of this year, a few projects progressed at a more measured pace in the light of evolving global macroeconomic and geopolitical conditions; this is not unusual in long-horizon investing. Our partners, many of whom are institutional investors with multi-decade outlooks, understand these cycles and remain confident in Indonesia’s long-term fundamentals,” said Andry Setiawan, Chief Investment Officer of INA, in an exclusive interview with DealStreetAsia.
INA in the News
Indonesia’s INA leverages top managers to amplify impact
Indonesia Investment Authority (INA) is diversifying beyond direct investments with a sophisticated fund strategy that leverages global asset managers' expertise and capital networks to achieve both commercial returns and national development objectives. The sovereign wealth fund's approach to indirect investments brings specialised capabilities to Indonesia's priority sectors while multiplying INA's impact through access to additional capital pools and global expertise.
"The overall objective of our indirect program is to build a diversified and resilient portfolio, optimised for a balance between yield and capital appreciation," Christopher Ganis, Chief Investment Officer of INA, told AsianInvestor.
INA Highlights Potential Economic and Social Impact of the Bakauheni - Terbanggi Besar Toll Road Project
Throughout 2024, INA successfully attracted IDR13.8 trillion in FDI, which is 2,5 times greater than INA’s equity investment during the same period. This represents the highest annual achievement since INA’s establishment. Interestingly, INA does not evaluate projects solely from a commercial perspective, but also explores their broader economic and social impacts.
INA Vice President of Environmental, Social, and Governance (ESG), Fetriza Rinaldy, stated that an in-depth analysis is currently being conducted with a focus on transport infrastructure projects, particularly the Bakauheni-Terbanggi Besar toll road. INA managed to bring in global partners, the Abu Dhabi Investment Authority (ADIA) and Algemene Pensioen Groep (APG), into the Trans-Sumatra Toll Road project (the Medan-Binjai and Bakauheni-Terbanggi Besar sections), with a total investment of IDR8.2 trillion.
INA Demonstrates Positive Performance, Assets Under Management Grow 92 Percent Since 2021
Minister of Finance Sri Mulyani Indrawati highlighted the strong performance of the Indonesia Investment Authority (INA) since its establishment. As of 2025, INA's total investment value has shown significant growth of 92% compared to the government’s initial capital injection in 2021.
“By 2025, INA’s performance has been quite satisfactory. The government’s initial capital of IDR75 trillion provided in 2021 has grown by 92%, with the total investment value — measured based on Total Assets Under Management (AUM) together with co-investors — reaching IDR144.3 trillion,” Minister Indrawati stated during a press conference.
She emphasized that INA has been managed professionally, independently, and competently to attract global investment partners willing to invest in Indonesia.
Indonesian SWF builds bridges through global partnerships
The Indonesia Investment Authority (INA) is leveraging international alliances to deploy smart capital, accelerate industrial development, and deliver long-term value for the country. Global partnerships sit at the core of the Indonesia Investment Authority’s (INA) strategy, serving not just as sources of capital but as powerful instruments for driving economic transformation and unlocking long-term value.
One of two Indonesian sovereign wealth funds, INA operates as an independent institution reporting directly to the President. With a mandate to deliver both financial returns and further develop Southeast Asia’s biggest economy, the fund invests in infrastructure, healthcare, energy, and the digital sector.
By the end of last year, INA had grown its assets under management to USD9.2 billion from USD5 billion when it launched in 2021. “Any partnership will be driven by shared objectives and a commitment to creating long-term value for Indonesia and its stakeholders,” Christopher Ganis, Chief Investment Officer of INA, told AsianInvestor.
Indonesia’s INA ramps up digital infra investments after record FDI
Indonesia’s sovereign wealth fund, the Indonesia Investment Authority (INA), is ramping up investment in digital infrastructure, which is one of its six core focus sectors. One of its key moves is a partnership with DayOne Data Center to build a data centre campus at Nongsa Digital Park on Batam Island. DayOne is a Singapore-based data centre operator spun off from China’s GDS Holdings Ltd in January. GDS retains a 35.6% stake in the company.
“We began working with them in late 2023. By then, one of the three buildings in our Batam project had already been completed,” says Johan Batubara, INA’s Director of Investments, in a recent conversation with The Tech Capital.
Focusing on Strategic Areas, INA’s Investment Reaches IDR 65.4 Trillion
The total cumulative investment of the Indonesia Investment Authority or INA until May 2025 reaches IDR65.4 trillion. The direction of INA’s investments, particularly in 2024, focuses on four strategic areas: transportation and logistics, green energy and transformation, digital infrastructure, and health. According to INA data, as of December 2024, there were a total of 15 transactions, with a cumulative value of IDR60.9 trillion. This consists of INA’s contribution of IDR24.9 trillion and investor partners’ contributions of IDR36 trillion. This positive trend continued as the value increased to IDR65.4 trillion by May 2025.
CEO of INA, Ridha Wirakusumah, stated that INA's investment approach is consistent with discipline, based on strong fundamentals, and oriented towards the creation of long-term value. Additionally, it focuses on ensuring meaningful development impacts for Indonesia. INA, Wirakusumah continued, seeks resilience through investments in sectors and industries that meet essential and long-term needs. "We invest in things that are important for Indonesia today and will continue to be needed by future generations," he stated in a press release.
