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This article stems from our research for the Asian Single Family Office database, which features key family investment vehicles across Asia. Our list highlights influential family offices investing in sectors such as financial markets, real estate, venture capital, private equity, and renewable energy.
Where does the wealth of Prajogo Pangestu come from?
Prajogo Pangestu is an Indonesian business tycoon, investor and philanthropist, and the founder of the Barito Pacific Group. The conglomerate has interests in forestry, plantations, oil and gas, coal and gold mining, and renewable energy. In March 2023, he listed his coal mining company, Petrindo Jaya Kreasi. Later, in October 2023, he listed Barito Renewables Energy, marking Barito Pacific’s entry into the renewable energy sector. Barito Renewables serves as the holding company for Star Energy Geothermal Group. Indonesia’s largest geothermal producer has a capacity of 886 megawatts. The flotation of his companies caused his fortune to skyrocket. With an estimated net worth of $47.4 billion, Pangestu is the richest person in Southeast Asia.
By now Prajogo involves his whole family in business activities. His eldest son, Agus Salim, serves as president and director of Barito Pacific. His daughter, Nancy Pangestu Tabardel, oversees the family office and Green Era from Singapore. Pangestu’s youngest son, Baritono, holds the role of commercial vice president director at Chandra Asri.
ANB INVESTMENT: The Prajogo Pangestu family office
ANB Investment, the family office of Prajogo Pangestu, was established in August 2016 to manage and grow the wealth of the Pangestu family. As the majority shareholder of Barito Pacific Group, the family’s holdings are well rooted in renewable energy through Star Energy and petrochemicals through PT Chandra Asri. In addition to its shareholdings, the Prajogo Pangestu Family Office invests in real estate and private markets. In real estate, it acquires, redevelops, and operates properties in Singapore, Hong Kong, Japan, Australia, and New Zealand. It mostly invests in residential, commercial, logistics, forestry and agricultural assets. In the private markets, ANB Investment focuses on digital health, biotechnology, longevity medicine, food and agritech, internet privacy, and Web 3.0.
Source: Forbes
Picture Source: Tommy Kwak via Unsplash
Last Updated on November 6, 2024
