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Hashim courts Ray Dalio from Bridgewater Associates to join Danantara
Former UK prime minister Tony Blair earlier joined the supervisory board of Danantara, the country's new sovereign wealth fund with $20 billion in initial capital.
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Luhut Pandjaitan, while serving in his previous role as coordinating maritime affairs and investment minister, meets with Bridgewater Associates founder Ray Dalio on Sept. 1, 2024, in Bali. (Courtesy of/Coordinating Minister for Maritime Affairs and Investment Office)
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he country’s new sovereign wealth fund, Danantara, is looking to bring Ray Dalio, founder of United States-based hedge fund firm Bridgewater Associates onto its supervisory board as it seeks to attract more global investors, Hashim Djojohadikusumo said.
“Hopefully, people like Mr. Ray Dalio of Bridgewater will also come onboard,” Hashim, a business tycoon and younger brother to President Prabowo Subianto, said on Thursday, as quoted by Kompas.
Prabowo is banking on Danantara to achieve his ambitious economic growth target of 8 percent. The fund was launched on Monday with US$20 billion in initial capital, but it aims to eventually manage $900 billion in assets, primarily the country’s state-owned enterprises (SOEs).
The state wealth fund is set to receive $20 billion annually from the state budget under Prabowo’s administration, with Hashim expressing hope that the funding will continue for the next ten years.
Read also: China, Europe keen to invest with Danantara, Hashim says
Danantara CEO Rosan Roeslani, who is also Indonesia’s investment minister, confirmed in an interview with Kompas TV on Thursday that Dalio would visit Indonesia to provide guidance to the fund.
“He is one of the biggest, most well-known investors. He can provide valuable guidance for us,” Rosan said, adding that Dalio’s insights would help shape Danantara’s strategy.
