Investment Strategy
The Indonesia Investment Authority (INA) is Indonesia’s sovereign wealth fund, established in 2021 under Presidential Regulation to manage and develop government-owned assets while attracting foreign co-investment into the Indonesian economy. The fund represents Indonesia’s ambition to professionalize government asset management and channel international capital into the country’s development priorities.
INA’s investment strategy centers on Indonesia’s most critical development sectors: toll roads, airports, ports, telecommunications infrastructure, healthcare, digital economy, and green energy. The fund operates primarily as a co-investment vehicle, structuring investments alongside international sovereign wealth funds and institutional investors to deploy capital at scale. This approach allows INA to leverage international expertise and capital while maintaining strategic control over key national assets.
The fund has secured partnership commitments from major global investors, including the Abu Dhabi Investment Authority, CDPQ, APG, and the US International Development Finance Corporation. These partnerships have enabled INA to pursue large-scale infrastructure transactions and attract foreign capital into Indonesian assets that would otherwise be difficult for international investors to access directly.
How to Approach
GPs and institutional investors should approach INA through the Jakarta headquarters. The fund is actively building its network of co-investment partners and is receptive to managers with relevant sector expertise in Indonesian infrastructure, digital economy, healthcare, and renewable energy. The fund’s co-investment model means it often invests as a direct partner rather than a traditional LP in blind pool funds. Managers who can bring operational expertise, international best practices, and capital to Indonesian development opportunities will find the strongest alignment with INA’s mandate.
Frequently Asked Questions
What is INA's investment mandate?
INA was established by the Indonesian government in 2021 with a mandate to manage government assets, attract foreign co-investment, and deploy capital into strategic sectors including infrastructure, healthcare, technology, and green economy. The fund operates as a co-investment vehicle, partnering with international institutional investors and sovereign wealth funds.
How much capital does INA manage?
INA received initial government capital injection of approximately $5 billion, with a mandate to attract co-investment to reach $20 billion or more in total managed assets. The fund has signed partnership agreements with major sovereign wealth funds and institutional investors including ADIA, CDPQ, APG, and the US International Development Finance Corporation.
How can international GPs engage with INA?
GPs with infrastructure, technology, or healthcare expertise relevant to Indonesia should approach INA's investment team in Jakarta. The fund is actively seeking co-investment partners and managers with capabilities in Indonesian infrastructure development, digital economy, renewable energy, and healthcare. INA's co-investment model means it often invests alongside international partners rather than through traditional blind pool commitments.
