Christopher Ganis
The Indonesia Investment Authority announced the appointment of Andry Setiawan and Christopher Ganis as co-CIOs. The duo will jointly oversee the sovereign wealth fund’s investment functions.
Setiawan was previously the INA’s managing director of investment and oversaw the green energy and transformation sector at the fund. Ganis was previously managing director of hybrid solutions at the fund, focused on investing in private credit and private equity.
The Indonesia Investment Authority, one of two of the country’s sovereign funds, was established in 2021 with an initial $5 billion from the government. Its mandate is to support the country’s sustainable development and build wealth for future generations. The fund currently manages $10.5 billion in assets, according to its website.
The country’s other sovereign fund is Danantara Indonesia, launched this year to focus on large-scale projects with goals of economic growth and job creation. It was seeded with approximately $20 billion of state-owned assets. Pandu Sjahrir, hired from local venture capital firm AC Ventures, was named as the new fund’s CIO in April.
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Andry Setiawan
Ridha Wirakusumah, the Indonesia Investment Authority’s CEO, said in a statement that the new investment leadership “reflects our continued commitment to strengthening INA’s institutional capabilities and advancing its long-term mission. As Andry and Chris assume their new responsibilities, INA remains focused on mobilizing capital, enhancing governance, and delivering long-term value that supports Indonesia’s sustainable development and economic growth.”
The fund’s mandate is to collaborate with global and local investors to invest in Indonesia across key sectors, such as transportation, logistics and infrastructure; green energy; health care; food and agriculture; and critical minerals.
Setiawan was previously the director of investment at PT Danaresksa, an asset manager which consolidated state-owned Indonesian companies. Ganis previously held roles at BlackRock and alternative investment manager Asia Summit Capital.
Setiawan earned an associate of arts degree in economics from Santa Monica College and a bachelor’s degree in economics from the University of California at Berkeley. Ganis earned a bachelor of science degree in business administration from the Ohio State University and an MBA from the Wharton School at the University of Pennsylvania.
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Tags: Andry Setiawan, Christopher Ganis, Indonesia Investment Authority, Ridha Wirakusumah, Sovereign Wealth Fund
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