The newly established sovereign fund Danantara Indonesia recently introduced its high-profile team to lead its strategic direction, which includes former presidents and advisory roles from individuals like Ray Dalio, Jeffrey Sachs, and Thaksin Shinawatra.

Danantara, initiated by Indonesian President Prabowo Subianto, aims to achieve an 8% growth target by 2029 by overseeing shares of state-owned enterprises and reinvesting dividends in commercial projects. Expected to eventually manage assets worth over $900 billion, the fund is likened to Singapore's Temasek by officials.

Former Indonesian Presidents Joko Widodo and Susilo Bambang Yudhoyono join the fund's steering committee, while Ray Dalio and Thaksin Shinawatra will serve in advisory roles. Thaksin, a controversial figure, returned to Thailand after years in exile and a jail term. Representatives for Widodo, Yudhoyono, Bridgewater, and Thaksin were not immediately available for comment.

Jeffrey Sachs confirmed his role as a special adviser to Prabowo, stating his voluntary work on the advisory board of Danantara aims to support Indonesia's sustainable development without compensation.

Danantara plans to invest $20 billion in projects focusing on natural resources processing, artificial intelligence, and energy and food security. The market concerns due to the government's expanded economic role through Danantara led to a market downturn, with the stock index dropping by up to 7%. However, Danantara CEO Rosan Roeslani believes that the team's credibility will send a positive signal to the market regarding the Indonesian economy and job creation.