Danantara to Deploy $10 Billion in First Three Months, Eyes Global Push, CIO Says

DANANTARA. SINGAPORE. Indonesia's new sovereign wealth fund Danantara will deploy about $10 billion in its first three months of operation starting in October, with 80% earmarked for domestic investments and the rest going overseas, its chief investment officer said on Thursday.

Danantara, short for Daya Anagata Nusantara, was launched in February by Indonesian President Prabowo Subianto with an initial allocation of $20 billion to kickstart 20 strategic projects, and will start deploying funds for the first time this month.