One of the two co-chief investment officers of Indonesia Investment Authority (INA) resigned from the sovereign wealth fund earlier this month, according to Bloomberg, citing people familiar with the matter.
Andry Setiawan resigned around the same time that Ridha Wirakusumah completed his term as INA’s chief executive officer on February 15, the news agency reported on February 25.
Christopher Ganis, the other co-CIO, remains with the wealth fund.
INA spokespersons did not immediately respond to questions from Asia Asset Management.
Indonesia established INA in December 2020 with the mandate to attract new capital to the Southeast Asian country via direct co-investments and hybrid capital solutions.
Last year, INA secured US$2.75 billion of co-investments from sovereign wealth fund Abu Dhabi Investment Authority and Dutch pension investor APG Asset Management for a toll road project in Indonesia.
