Indonesia’s new sovereign wealth fund, Danantara Indonesia, announced its advisory team on Mar. 24, to guide its US$900 billion asset management strategy.

The team includes former Presidents Joko Widodo and Susilo Bambang Yudhoyono, economist Jeffrey Sachs, hedge fund manager Ray Dalio, and former Thai Prime Minister Thaksin Shinawatra.

Launched last month, Danantara is part of President Prabowo Subianto’s plan to drive 8% economic growth by 2029, consolidating state-owned enterprise shares and reinvesting dividends into key sectors like natural resources, AI, energy, and food security.

CEO Rosan Roeslani remains confident that the high-profile advisory board will boost market sentiment and job creation.

Danantara, Indonesia’s second sovereign wealth fund after the Indonesia Investment Authority, will operate independently, with directors from Bank Mandiri, HSBC, and the Indonesian central bank.

Recent Danantara developments