Indonesia’s newly launched sovereign wealth fund Danantara Indonesia has named billionaire investor Ray Dalio, economist Jeffrey Sachs, and former Thailand President Thaksin Shinawatra as advisers.
Other advisers are Helman Sitohang, former chief executive officer for Asia Pacific at Credit Suisse, and Chapman Taylor, equity portfolio manager at Capital Group, Rosan Roeslani, chief executive officer of Danantara, said during a media conference on March 25, when the wealth fund revealed its organisational structure to the media.
Danantara, launched last month, is Indonesian President Prabowo Subianto’s main vehicle to achieve his 8% economic growth target by 2029 by managing all shares of state-owned enterprises and reinvesting the dividends in commercial projects. The fund is often described by officials as Indonesia’s version of Temasek Holdings, Singapore’s state investment company.
Former Indonesian Presidents Joko Widodo and Susilo Bambang Yudhoyono were also named as members of the fund’s steering committee.
In its first wave of investment worth US$20 billion, Danantara will target projects in natural resources processing, artificial intelligence development, and energy and food security.
