Indonesia officially launched its first-ever sovereign wealth fund, the Daya Anagata Nusantara Investment Management Agency (BPI Danantara), on Monday, with President Prabowo Subianto presiding over the ceremony at the Merdeka Palace in Jakarta.
President Prabowo stated, "By saying 'Bismillahirrahmanirrahim,' I hereby launch the Daya Anagata Nusantara Investment Management Agency, Danantara Indonesia."
The establishment of BPI Danantara follows the signing of three key regulations: Law Number 1 of 2025, Government Regulation Number 10 of 2025, and Presidential Decree Number 30 of 2025. These regulations lay the groundwork for Danantara’s governance, supervisory boards, and operations.
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The creation of the sovereign wealth fund comes as part of a broader overhaul of Indonesia's state-owned enterprise (BUMN) law, which was amended earlier this month. The revised law defines Danantara’s role as an investment management body aimed at optimizing state wealth through strategic investments.
Initially, BPI Danantara will manage dividends from seven key state-owned enterprises: Bank Mandiri, Bank BRI, BNI, PLN, Pertamina, Telkom Indonesia, and MIND ID.
Looking ahead, the sovereign wealth fund is expected to manage assets worth over $900 billion (around Rp 14,670 trillion). If realized, the fund would make Danantara the largest asset management body in Indonesia, drawing comparisons to Singapore's Temasek Holdings Limited.
Editing by Reiner Simanjuntak
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