Jakarta. Indonesia’s sovereign wealth fund, Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara), is setting its sights on global acquisitions as part of a broader strategy to expand its investment portfolio and strengthen economic resilience.

Chief Operating Officer Dony Oskaria said Thursday that Danantara was established to drive economic growth through sustainable investments while reducing reliance on foreign capital and debt-based financing. The fund aims to manage state assets, make strategic investments, and ensure long-term economic stability.

“This marks a fundamental shift in approach—Indonesia is no longer dependent on others but has the capacity to invest independently,” Oskaria said at the BNI Investor Daily Roundtable in Jakarta. He added that Danantara intends to become a global player by acquiring companies that provide strategic value to the Indonesian economy.

Leading the fund’s investment strategy is Chief Investment Officer Pandu Sjahrir, tasked with identifying high-impact opportunities. “In the future, Danantara may invest abroad, acquiring companies that contribute to Indonesia’s growth,” Oskaria said.

By the end of March, the fund is set to take over the management of 47 state-owned enterprises (SOEs), overseeing $900 billion in assets. It has outlined a $20 billion investment plan to improve budget efficiency and accelerate economic transformation under President Prabowo Subianto’s administration.

Public Scrutiny and Bank Withdrawal Fears
Danantara’s ambitious plans come amid growing public scrutiny, sparked by an online campaign urging depositors to withdraw funds from state-owned banks over concerns of mismanagement. The backlash intensified following the fund’s official launch earlier this week.

Responding to the concerns, Oskaria reassured that Danantara will only manage dividends from SOEs, not customer deposits or operational funds. “There is no mixing of funds. Investments will strictly come from SOE dividends and be reinvested into sustainable economic initiatives,” he said.

Despite the controversy, Danantara remains on course to position itself among the world’s largest sovereign wealth funds, balancing strategic investments at home with a push into global markets.

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