Indonesia to Launch New Sovereign Wealth Fund Danantara with $600 Billion Assets & to Increase to $980 Billion Assets, Current Portfolio Includes Major State-Owned Enterprises (SOEs) Bank Mandiri, Bank Rakyat Indonesia, PLN, Pertamina, Bank Negara Indonesia (BNI), Telkom Indonesia & PT Mineral Industri Indonesia (MIND ID), Head of Danantara is Muliaman Darmansyah Hadad
13th November 2024 | Hong Kong
Indonesia has announced to launch a new sovereign wealth fund Danantara with $600 billion assets, and to increase to $980 billion assets in the next few years. Danantara current portfolio includes major state-owned enterprises (SOEs) Bank Mandiri, Bank Rakyat Indonesia, PLN, Pertamina, Bank Negara Indonesia (BNI), Telkom Indonesia & PT Mineral Industri Indonesia (MIND ID). The Head of Danantara is Muliaman Darmansyah Hadad. In 2024 June, Indonesia $10.5 billion sovereign wealth fund Indonesia Investment Authority (INA) & co-investors have deployed $1.9 billion investment in 2023 and $3.2 billion since launch in 2021. Indonesia Investment Authority (INA) Asset Allocation – 86.3% in infrastructure, 13.9% in private equity, public equity & hybrid capital solutions. Sector Allocation – 47.7% in transport & logistics, 33.5% in digital assets, 14.5% in green energy & 4.4% in healthcare. View Indonesia Investment Authority (INA) 2023 Report here. In 2023 July, Indonesia Investment Authority (INA) and British International Investment (BII) with $10.4 billion AUM (£8.1 billion) have formed a partnership to focus on Indonesia investments in green infrastructure, renewable energy, climate resilience & related sectors, with British International Investment announcing earlier in 2022 to invest $642 million (£500 million) in Southeast Asia to support Southeast Asia green energy transition from 2022 to 2026.
“ Indonesia to Launch New Sovereign Wealth Fund Danantara with $600 Billion Assets & to Increase to $980 Billion Assets, Current Portfolio Includes Major State-Owned Enterprises (SOEs) Bank Mandiri, Bank Rakyat Indonesia, PLN, Pertamina, Bank Negara Indonesia (BNI), Telkom Indonesia & PT Mineral Industri Indonesia (MIND ID), Head of Danantara is Muliaman Darmansyah Hadad “
Indonesia $10.5 Billion Sovereign Wealth Fund Indonesia Investment Authority (INA) & Co-Investors Deployed $1.9 Billion in 2023 & $3.2 Billion Since Launch in 2021, Asset Allocation of 86.3% in Infrastructure, 13.9% in Private Equity, Public Equity & Hybrid Capital Solutions, Sector Allocation of 47.7% in Transport & Logistics, 33.5% in Digital Assets, 14.5% in Green Energy & 4.4% in Healthcare
19th June 2024 – Indonesia $10.5 billion sovereign wealth fund Indonesia Investment Authority (INA) & co-investors have deployed $1.9 billion investment in 2023 and $3.2 billion since launch in 2021. Indonesia Investment Authority (INA) Asset Allocation – 86.3% in infrastructure, 13.9% in private equity, public equity & hybrid capital solutions. Sector Allocation – 47.7% in transport & logistics, 33.5% in digital assets, 14.5% in green energy & 4.4% in healthcare. View Indonesia Investment Authority (INA) 2023 Report here. In 2023 July, Indonesia Investment Authority (INA) and British International Investment (BII) with $10.4 billion AUM (£8.1 billion) have formed a partnership to focus on Indonesia investments in green infrastructure, renewable energy, climate resilience & related sectors, with British International Investment announcing earlier in 2022 to invest $642 million (£500 million) in Southeast Asia to support Southeast Asia green energy transition from 2022 to 2026. More info below:
$20 Billion Sovereign Wealth Fund Indonesia Investment Authority & $10.4 Billion British International Investment Form Partnership to Focus on Indonesia Investments in Green Infrastructure, Renewable Energy, Climate Resilience & Related Sectors, British International Investment to Invest $642 Million in Southeast Asia to Support Green Energy Transition from 2022 to 2026
21st July 2023 – Indonesia sovereign wealth fund Indonesia Investment Authority (INA) with $20 billion AUM (Assets under Management) and British International Investment (BII) with $10.4 billion AUM (£8.1 billion) have formed a partnership to focus on Indonesia investments in green infrastructure, renewable energy, climate resilience & related sectors, with British International Investment announcing earlier in 2022 to invest $642 million (£500 million) in Southeast Asia to support Southeast Asia green energy transition from 2022 to 2026. Indonesia Investment Authority (INA): “The partnership, which has been formalized through the execution of an Investment Framework Agreement (“IFA”) between the two entities, will focus specifically within the spheres of green infrastructure, renewable energy, climate resilience and adaptation and related sectors .. …. The partnership underlines the synergy between INA’s dedication and BII’s investment focus to mobilize capital and catalyse select green sectors in Indonesia to achieve development objectives on improved productivity, sustainability and inclusion. Through this IFA, the parties intend to create a more enabling environment for facilitating investments and partnerships in private sector businesses in Indonesia. Leveraging their combined strengths, experience, networks and a shared vision, the partnership is poised not only to seek optimal risk-adjusted returns on invested capital, but also to cultivate sustainable economic growth and address global climate challenges. INA has designated green energy and transformation as one of its priority investment sectors, focusing on supporting the energy transition toward renewable energy in Indonesia. Earlier this year, INA made its first strategic investment in green energy through PT Pertamina Geothermal Energy (PGE), the largest geothermal energy company in Indonesia. Additionally, INA joined forces with Contemporary Amperex Technology Co., Limited (CATL) to establish a Green Electric Vehicle (EV) Fund that will concentrate on end-to-end EV value chain investment, primarily in Indonesia, reflecting INA’s dedication to support Indonesia’s sustainability and commitment to net zero carbon emissions by 2060. Moreover, INA is marking its commitment in the energy transition mechanism (ETM) working together with Asian Development Bank (ADB) for pilot project, and PT Cirebon Electric Power (CEP), for supporting the energy transition in Indonesia by phasing out coal-fired power plants.” See below for more info.
Ridha Wirakusumah, Indonesia Investment Authority CEO: “This partnership marks a significant step in INA’s mission to serve as a catalyst for Indonesia’s future growth and prosperity. Collaborating with a leading development finance institution like BII strengthens our dedication to supporting sustainable development throughout Indonesia. This strategic alliance will bolster our commitment to green investment, which is pivotal for sustainable and inclusive growth. BII’s wealth of knowledge, experience, and resources in this area serve as an impetus for INA to enhance our investment capabilities and impact. By leveraging our combined strengths, we are not only seeking optimal risk-adjusted returns, but also fostering a robust economic dialogue between Indonesia and the UK. This alliance further marks our dedication to leverage collective investment expertise for mutual growth and prosperity.”
British Ambassador to Indonesia & Timor-Leste Owen Jenkins: “This new partnership between BII and INA is the latest demonstration of the UK’s commitment to work with Indonesia on green investment opportunities, creating jobs and putting UK expertise at the heart of tackling climate change and supporting social, economic and environmental benefits. As one of BII’s priority markets in Southeast Asia, Indonesia has the potential to become an international climate leader as it continues to accelerate low carbon energy transition. INA’s collaborations with BII reaffirms the commitment of both countries to realise that ambition.”
Nick O’Donohoe, British International Investment CEO: “We are very excited by this partnership with INA as it will not only further our ambitions to provide climate finance in the region but also support Indonesia to accelerate its energy transition goals. With a shared vision to catalyse investment in the private sector to drive sustainable economic growth, we look forward to working with INA to support local businesses that are the forefront of innovations to mitigate climate change as well as increase climate resilience and adaptation.”
$20 Billion Sovereign Wealth Fund Indonesia Investment Authority & $10.4 Billion British International Investment Form Partnership to Focus on Indonesia Investments in Green Infrastructure, Renewable Energy, Climate Resilience & Related Sectors
18th July 2023 – In a significant step toward enhancing bilateral investment ties between Indonesia and the United Kingdom, Indonesia Investment Authority (INA), the sovereign wealth fund of Indonesia, and British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, today announced a strategic partnership aimed at fostering sustainable economic development and cooperation. The partnership, which has been formalized through the execution of an Investment Framework Agreement (“IFA”) between the two entities, will focus specifically within the spheres of green infrastructure, renewable energy, climate resilience and adaptation and related sectors. The IFA was signed in Jakarta by INA Chief Executive Officer, Ridha Wirakusumah, and BII Chief Executive Officer, Nick O’Donohoe.
The partnership underlines the synergy between INA’s dedication and BII’s investment focus to mobilize capital and catalyse select green sectors in Indonesia to achieve development objectives on improved productivity, sustainability and inclusion. Through this IFA, the parties intend to create a more enabling environment for facilitating investments and partnerships in private sector businesses in Indonesia. Leveraging their combined strengths, experience, networks and a shared vision, the partnership is poised not only to seek optimal risk-adjusted returns on invested capital, but also to cultivate sustainable economic growth and address global climate challenges.
INA has designated green energy and transformation as one of its priority investment sectors, focusing on supporting the energy transition toward renewable energy in Indonesia. Earlier this year, INA made its first strategic investment in green energy through PT Pertamina Geothermal Energy (PGE), the largest geothermal energy company in Indonesia. Additionally, INA joined forces with Contemporary Amperex Technology Co., Limited (CATL) to establish a Green Electric Vehicle (EV) Fund that will concentrate on end-to-end EV value chain investment, primarily in Indonesia, reflecting INA’s dedication to support Indonesia’s sustainability and commitment to net zero carbon emissions by 2060. Moreover, INA is marking its commitment in the energy transition mechanism (ETM) working together with Asian Development Bank (ADB) for pilot project, and PT Cirebon Electric Power (CEP), for supporting the energy transition in Indonesia by phasing out coal-fired power plants.
In synergy, BII with its 75 years’ experience of investing to create more productive, sustainable, and inclusive emerging economies, is committed to boosting climate finance in the region. As part of its current 2022-2026 investment strategy, BII re-entered Southeast Asia including Indonesia with plans to invest up to £500 million across the capital structure to support the region’s green energy transition. This commitment was recently demonstrated through BII’s $15 million investment to the SUSI Asia Energy Transition Fund (SAETF), a Southeast Asia-focused energy transition infrastructure fund. In Indonesia, it has invested in the development of run-of-river hydropower and wind projects via a joint venture between SAETF and regional developer Pacific Impact. This reiterates the DFI’s renewed commitment to investing in climate finance in Indonesia, as one of BII’s priority markets in Southeast Asia.
The collaboration signals a new chapter in the economic relationship between Indonesia amd the UK, with potential for substantial mutual benefits. It aims to create pathways for resilient and sustainable economic growth, offering a platform for innovation and synergy in investments between the two nations. As plans are further solidified, details of the joint investments will be announced in due course.
About Indonesia Investment Authority (INA)
The Indonesia Investment Authority is Indonesia’s sovereign wealth fund mandated to increase investment to support the country’s sustainable development and build wealth for its future generations. INA conducts investment activities and collaborates with leading global and domestic investment institutions in sectors that strengthen Indonesia’s advantages and provide risk-adjusted optimal returns.
About British International Investment (BII)
British International Investment is the UK’s development finance institution and impact investor. BII is a trusted investment partner to businesses in Africa, South and Southeast Asia, and the Caribbean. It invests to support the UK Government’s Clean Green Initiative and to create productive, sustainable, and inclusive economies in our markets. Between 2022 and 2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which raised over $16 billion to empower women’s economic development from 2021-2022. The company has investments in over 1,470 businesses in emerging economies across 65 countries and total assets of £8.1 billion.
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