By South China Morning Post | Created at 2025-03-24 11:36:20 | Updated at 2025-03-26 07:54:41
1 day ago
New sovereign fund Danantara Indonesia unveiled on Monday what it called a “dream team” to chart its strategy, including ex-presidents as well as advisory roles for hedge fund manager Ray Dalio, economist Jeffrey Sachs and former Thai prime minister Thaksin Shinawatra.
Danantara, launched last month, is Indonesian President Prabowo Subianto’s main vehicle to achieve his 8 per cent economic growth target by 2029 by managing all shares of state-owned enterprises and reinvesting the dividends in commercial projects.
The fund is slated to eventually manage more than US$900 billion worth of assets, and has been described by officials as Indonesia’s version of Singapore’s Temasek.
Former Indonesian Presidents Joko Widodo and Susilo Bambang Yudhoyono were named members of the fund’s steering committee, while Dalio, founder of the world’s largest hedge fund Bridgewater, will assume the advisory role alongside Thaksin, a billionaire who spent 15 years in self-exile avoiding jail for abuse of power and is the father of Thailand’s current premier Paetongtarn Shinawatra.
Widodo and Yudhoyono could not be immediately reached for comment, while Bridgewater and Thaksin’s representatives did not immediately respond to requests for comment.
