TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Dalio’s reported exit sparks questions over Danantara’s game plan
Change text size
Gift Premium Articles
to Anyone
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!
On Patrol: A security guard walks past the building housing Indonesia's state asset fund Daya Anagata Nusantara (Danantara) on Feb. 24, in Central Jakarta. (AFP/Bay Ismoyo)
T
he government has pushed back against reports that Bridgewater Associates founder Ray Dalio has backed out of an advisory role at Indonesia’s state asset fund Danantara and said it remained in contact with the United States hedge fund titan’s team.
Analysts have noted a potential mismatch between Danantara’s mission and the expectations of the global figures President Prabowo Subianto has tapped as advisors and suggest the fund focus on tangible results rather than headline-grabbing names for credibility.
Citing sources familiar with the matter, Bloomberg reported on Wednesday that Dalio had opted not to join Danantara’s advisory board two months after the government publicly announced his involvement.
The reasons behind his decision remain unclear.
Dalio’s name was nowhere to be found in a recent Danantara slide presentation shown to foreign business executives in Jakarta, according to the report.
The updated lineup only included economist Jeffrey Sachs, former Capital Group equity portfolio manager Chapman Taylor, ex-Thai Prime Minister Thaksin Shinawatra and former Credit Suisse CEO Helman Sitohang.
The decision would be a setback for Danantara, envisioned by Prabowo as a superholding to consolidate all state-owned enterprises (SOEs) and a national investment management firm akin to Singapore’s Temasek.
