State-Owned Enterprises Private Equity Fund to be Launched

The State Ministry for State-owned Enterprises is going to launch private equity fund to finance state-owned enterprises' projects.

Two state-owned investment enterprises have been appointed investment managers, namely PT Bahana TCW Investment Management and PT Danareksa Investment Management (DIM).
Bapepam-LK plans to limit the number of investors to 50 investors for each product.

Investment managers overseeing private equity fund are also required to have minimum IDR25 billion in assets and to have at least one chartered financial analyst (CFA) directly involved in managing the fund.

In private equity fund, investment managers are prohibited from buying securities issued by the affiliated parties except if the affiliation occurs because of the government's interest or equity.