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New Indonesia sovereign wealth fund eyes assets worth US$2.6bil


JAKARTA, March 10 (Reuters): Indonesia s new sovereign wealth fund is exploring investment in dozens of projects, including toll road concessions worth US$2.6 billion, in its first foray into infrastructure assets, a deputy minister has announced.
The Indonesia Investment Authority (INA) was launched last month with a target of managing $20 billion of assets, including some $5 billion the state will put into the fund this year.
Unlike sovereign wealth funds of richer countries, which manage excess oil revenues or foreign exchange reserves, the INA seeks foreign funds as co-investors to finance the country s economic development and aid pandemic recovery.
We have the first 24 (toll road) concessions that we are currently discussing with INA for coordination opportunity with a total equity value of around 37 trillion rupiah (US$2.57 billion), said Kartika Wirjoatmodjo, deputy state-owned enterprises minister. ....

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