Celvin Moniaga Sipahutar, Jakarta – Indonesia's newly launched sovereign wealth fund, Daya Anagata Nusantara (Danantara), will oversee all state-owned enterprises (SOEs) as part of a broad consolidation strategy, CEO Rosan Roeslani said after the fund's official launch at the Presidential Palace in Jakarta on Monday.
"All SOEs will eventually be consolidated under Danantara," Rosan said, signaling a major restructuring of Indonesia's state assets.
The initial phase will see seven major SOEs – Bank Mandiri, Bank BRI, Bank BNI, Telkom Indonesia, PLN, Pertamina, and MIND ID – brought under Danantara's management. The consolidation will take place in stages, he said.
"It's not just these seven SOEs; we will gradually expand the scope," Rosan added.
Danantara is set to manage over $900 billion (Rp 14,724 trillion) in total assets, making it one of the world's largest sovereign wealth funds. For its initial investment phase, the fund will oversee $20 billion (Rp 325.8 trillion), channeling capital into strategic projects focused on downstream industrialization and sustainable sectors.
Rosan, who also serves as Investment Minister, said Danantara is designed to accelerate economic growth on both regional and global scales while driving job creation.
"We are consolidating all these assets to create value. The president's key directive is to position Danantara as a global champion – not just regionally but internationally. Most importantly, our top priority is job creation," he said.
Danantara will operate with strict governance principles, emphasizing prudence, transparency, and integrity, Rosan said. Comprehensive evaluations will be conducted to ensure the fund's long-term success.
"We aim to uphold good corporate governance and maintain the highest standards in managing these assets," he said.
With Danantara taking control of Indonesia's SOEs, the fund is poised to become a powerful force in global markets, leveraging the country's vast state-owned assets to drive long-term economic expansion.
Source: https://jakartaglobe.id/business/danantara-to-eventually-oversee-entire-soe-portfolio-ceo-rosan-say