Analysts caution that the fund’s success will hinge more on its execution than on the prominence of its board members.
anantara Indonesia, the country’s newly established sovereign wealth fund (SWF), has unveiled a leadership lineup featuring hedge fund titan Ray Dalio, economist Jeffrey Sachs and former Thai prime minister Thaksin Shinawatra.
The board also includes current or former executives from the World Bank, state-owned Bank Mandiri and the Indonesia Investment Authority (INA), the nation's other SWF.
Analysts view the appointments as an attempt to address concerns over government interference, particularly following the choice of Investment Minister Rosan Roeslani as Danantara’s head, but caution that the fund’s success will hinge more on its execution than on the prominence of its board members.
In February, President Prabowo Subianto picked Rosan to lead Danantara, along with Deputy State-Owned Enterprises (SOEs) Minister Dony Oskaria as chief operating officer and entrepreneur Pandu Sjahrir, a nephew of National Economic Council chairman and former coordinating minister Luhut Pandjaitan, as chief investment officer.
SOEs Minister Erick Thohir will join Danantara’s supervisory board, as will former Financial Services Authority (OJK) head Muliaman Hadad, who had initially been slated to head the fund.
Dalio, Sachs and Shinawatra are to join the advisory board, along with former Credit Suisse CEO Helman Sitohang and Capital Group equity portfolio manager Chapman Taylor.
Meanwhile, former Indonesian presidents Joko “Jokowi” Widodo and Susilo Bambang Yudhoyono will sit on the steering committee.
Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.
Thank you for sharing your thoughts. We appreciate your feedback.
Quickly share this news with your network—keep everyone informed with just a single click!
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Get the best experience—faster access, exclusive features, and a seamless way to stay updated.