Jakarta, Indonesia

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Indonesia President Jokowi Targets $200 Billion Sovereign Wealth Fund

10th April 2021 | Singapore

Indonesia President Jokowi has set a new target of $200 billion AUM for Indonesia’s newly setup Sovereign Wealth Fund (SWF).  The new $200 billion target for Indonesia Investment Authority (INA), which was setup only in January 2021, had an original target of $100 billion. (AUM ~ Assets under Management)

” Indonesia President Jokowi Targets $200 Billion Sovereign Wealth Fund “


Indonesia Investment Authority Key Appointments in February 2021

Jakarta, Indonesia


In February 2021, Indonesia President Jokowi had announced several key appointments including former CEO of Bank Permata Ridha Wirakusumah as the first Chief Executive Officer of the fund.  Before Bank Permata, Ridha Wirakushmah was at leading global private equity firm KKR and one of the world’s largest bank, Citibank.

The Indonesia Investment Authority Appointments:

  • CEO: Ridha Wirakusumah (former CEO, Bank Permata)
  • Deputy CEO: Arief Budiman (former CFO, Pertamina)
  • CIO: Stefanus Ade Hadiwidjaja (former MD, Creador – Private Equity)
  • Director: Marita Alisjahbana (former Country Risk Manager, Citi)
  • Director: Eddy Porwanto (former CFO Garuda Indonesia)

Several of the new appointments had quit their job to join Indonesia Investment Authority (INA).


Indonesia Investment Authority (INA) $200 Billion AUM

Indonesia Investment Authority (INA) is pooling investments from Indonesia and global investors to finance projects in Indonesia, with a strong focus on infrastructure and other sectors such as healthcare.

Created in January 2021, the fund by February 2021 already have have $15 billion in assets.  $5 billion was seeded by the Indonesian government and $10 billion came from global investors.  More commitments have also been made by global investors in March 2021.


Building a Green Indonesia – $1.1 Trillion Economy and 270 Million People

Indonesia Flag

Indonesia President Jokowi wants to build a green economy and has called for investors to look at hydropower, geothermal sources, electric cars, and talks with Tesla about potential investment into Indonesia.

Indonesia is one of the largest economy in Asia and Southeast Asia with GDP of more than $1.1 trillion and GDP per capital of around $4,200.  In Asia-Pacific, only China, India, Japan, Korea and Australia has more than $1 trillion GDP.

Indonesia also has one of the largest population in the world and has the 4th largest population in the world with more than 270 million people.  Only China (1.3 billion), India (1.3 billion) and United States (320 million) have a larger population than Indonesia.


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