Swiss asset manager Partners Group has received $1 billion from Indonesian sovereign wealth fund Danantara.

Danantara committed $600 million to Partners Group for direct-lending investments across Asia, along with an additional $400 million discretionary allocation that Partners Group will manage and use for co-investments, sources familiar with the deal told Bloomberg.

The sovereign wealth fund is making a broader push to deploy capital both in Indonesia and overseas, with the funds ultimately expected to flow back into the country.  

Danantara is expanding its global investment strategy after raising $1.5 billion through an overseas bond offering. The fund, which oversees hundreds of government-owned companies and has approximately $900 billion in assets, recently committed $2.5 billion to JBS’s business in Australia and New Zealand, Bloomberg noted.

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