Danantara Indonesia's Dream Team Unveiled: A New Era for Economic Growth

Danantara Indonesia, a new sovereign fund, has revealed a high-profile team, including former presidents and renowned advisors like Ray Dalio and Jeffrey Sachs, to spearhead its investment strategy. Aiming for an 8% growth target by 2029, the fund will manage $900 billion in assets focusing on sectors like energy, AI, and food security.

Danantara Indonesia, the nation's newly launched sovereign fund, has introduced its 'dream team,' a blend of ex-presidential figures and esteemed advisors, to guide its ambitious strategy. Launched by President Prabowo Subianto, Danantara aims to achieve an 8% growth target by 2029, mirroring Singapore's Temasek in ambition.

With assets projected to reach over $900 billion, the fund's steering committee features former Presidents Joko Widodo and Susilo Bambang Yudhoyono. Notable figures such as hedge fund magnate Ray Dalio and former Thai leader Thaksin Shinawatra will offer their expertise in advisory roles, while economist Jeffrey Sachs joins Prabowo's advisory board voluntarily.

In its initial $20 billion wave, Danantara will focus on projects in natural resources, AI development, and energy and food security. Despite initial market jitters resulting in a stock index decline, CEO Rosan Roeslani believes the fund's leadership will instill investor confidence and bolster the Indonesian economy.

(With inputs from agencies.)