President Prabowo Subianto (centre) greeting former president Joko “Jokowi“ Widodo during the launch of Danantara in Jakarta on Feb. 24, 2025. - AFP
JAKARTA: President Prabowo Subianto launched Danantara, the nation’s newest sovereign wealth fund, with US$20 billion in initial capital on Monday (Feb 24), but analysts have warned that the fund will face challenges in winning investor trust given its governance structure.
Danantara is a superholding set to consolidate all state-owned enterprises (SOEs) and is envisioned as a national investment management firm akin to Singapore’s Temasek.
