Indonesia’s sovereign fund INA resets strategy to private-sector deals post-Danantara

[JAKARTA] After years dominated by state-linked transactions, Indonesia’s sovereign wealth fund Indonesia Investment Authority (INA) is pivoting to private-sector deals. This follows the transfer of most state-owned enterprise (SOE)-related assets to the newly set up state investment vehicle Danantara, said its top executive.

INA chief executive Ridha Wirakusumah told The Business Times in an interview: “Last year was a pivotal period for INA. We had carried out many transactions and investments involving SOEs.

“But with the establishment of Danantara, it was only natural for INA to pivot towards non-SOE deals.”