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Danantara has different investment objectives from INA, CIO says
According to Danantara CIO Pandu Sjahrir, the new sovereign wealth fund will complement the INA's work by investing its funds and creating jobs to drive economic growth.
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A sign bearing the logo of Daya Anagata Nusantara (Danantara) adorns the building housing its offices on Jl. Soeroso in Menteng, Central Jakarta, after President Prabowo Subianto launched the country’s new sovereign wealth fund on Feb. 24, 2025. (AFP/Bay Ismoyo)
T
he operation of Daya Anagata Nusantara (Danantara), the country’s second sovereign wealth fund (SWF), is to complement but not overlap with that of the Indonesia Investment Authority (INA), according to its chief investment officer (CIO) Pandu Sjahrir.
Pandu added that the two SWFs also differed in terms of the amount of funds each managed: the INA oversees US$10 billion in assets while Danantara manages a staggering $900 billion.
Their mandates were also different, he said. The INA’s primary role was to attract third-party capital and to focus on projects that generated “very good returns”, while Danantara was tasked with investing its funds and creating jobs to drive economic growth.
“[Danantara] is not here to crowd out the private sector. In fact, we are here to support businesses and partner with large investors,” Pandu said during an online interview with CNBC.
He also noted that other countries also managed more than one sovereign fund, such as Malaysia, Singapore and the United Arab Emirates (UAE).
Pandu, an entrepreneur and founding partner of AC Ventures who is also a nephew of former senior minister Luhut Pandjaitan, added that Danantara would not take “unnecessary risks” like venture capital firms typically did.
“Our job is to invest in something ‘super boring’ to generate returns above our cost of capital and create jobs,” he said.
