Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

Indonesian sovereign wealth fund draws $20 billion in co-investments

Economy Sep 29, 2022 09:51AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. An employee counts Indonesian rupiah banknotes at a currency exchange office in Jakarta, Indonesia October 23, 2018. Picture taken October 23, 2018. REUTERS/Beawiharta
 
USD/CNY
-0.01%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Anshuman Daga and Yantoultra Ngui

SINGAPORE (Reuters) - Indonesia's sovereign wealth fund has garnered more than $20 billion of co-investments from funds including Singapore's GIC and Abu Dhabi Investment Authority, and is actively looking at infrastructure assets, its top executive told Reuters.

"The money is there, but to find the right one at the right angle, the right dimension, the right amount of return, it's not easy," Indonesia Investment Authority (INA) Chief Executive Officer Ridha Wirakusumah said on the sidelines of the Milken Institute Asia Summit in Singapore on Thursday.

Indonesia's youthful population, abundant natural resources and its position as the region's largest economy is attractive to investors but poor infrastructure, red tape and corruption have hindered investments.

INA, Indonesia's only sovereign fund, was launched in early 2021 with $5 billion from the government.

Unlike many other state wealth funds that manage excess oil revenues or foreign exchange reserves, the INA seeks to attract foreign co-investors to help fund economic development.

Ridha, a former banker, said the state investor had "live deals" in toll roads, airports and sea ports.

He said the fund is also seeking investments in water and logistics sectors, and digital infrastructure industry that includes fiber optics and data centers.

In 2021, INA set up a $3.75 billion toll road fund with Caisse de dépôt et placement du Québec, Dutch APG Asset Management and a unit of the Abu Dhabi Investment Authority.

This year, China's Silk Road Fund agreed to invest up to 20 billion yuan ($2.78 billion) in INA.

"Indonesia needs infrastructure," Ridha said. "It's actually good for not only long term impact from the investments perspective, but also good for the social impact."

($1 = 7.1945 Chinese yuan renminbi)

Indonesian sovereign wealth fund draws $20 billion in co-investments
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email