Indonesia Investment Authority

Ridha Wirakusumah serves as Chief Executive Officer of INA. He reports to a board of directors chaired by Indonesia's Minister of Finance and a supervisory board that includes the Minister of State-Owned Enterprises. Day-to-day investment decisions are executed by the management team under Wirakusumah's leadership, with strategic direction set by the board.

INA sources deals primarily through its unique position as the Indonesian government's formal co-investment partner. The fund has direct access to state-owned enterprise assets, government infrastructure project pipelines, and regulatory approval channels that foreign investors cannot access independently. Its mandate under the Job Creation Law gives it first-look rights on many state-linked infrastructure opportunities.

INA deploys capital almost exclusively through direct co-investments and platform structures rather than fund commitments. The fund's model is to serve as the anchor domestic investor in specific infrastructure projects, bringing in foreign partners like ADIA, GIC, and DP World on a deal-by-deal basis. It has not publicly reported any third-party fund investments.

INA's mandate covers four priority sectors: transportation and logistics infrastructure (including toll roads and ports), digital infrastructure (data centers and telecommunications), energy transition (geothermal and nickel processing for EV batteries), and healthcare services. The fund has also indicated interest in broader social infrastructure and technology ecosystem investments.

INA is governed by a two-tier board structure: a Board of Supervisors chaired by the Minister of State-Owned Enterprises, and a Board of Directors chaired by the Minister of Finance. This structure embeds direct government oversight while giving the professional management team operational independence. The fund is also a full member of the International Forum of Sovereign Wealth Funds, committing it to the Santiago Principles.

INA actively seeks co-investment partners. Its founding model is to de-risk foreign participation in Indonesian infrastructure by acting as the in-country equity anchor. It has publicly co-invested with ADIA on toll roads and with GIC on telecommunications infrastructure, and it welcomes additional institutional partners that bring sector-specific operational expertise alongside capital.