Hedge fund manager Ray Dalio remains as adviser to Indonesia's Danantara, quashes exit rumours
[JAKARTA] Ray Dalio, founder of hedge fund giant Bridgewater Associates, has reaffirmed his ongoing role as a voluntary adviser to Indonesia's sovereign wealth fund, Daya Anagata Nusantara (Danantara), following speculation over his possible departure.
In a joint statement issued on Wednesday (Jun 4), Dalio and Danantara clarified that there has been no change in their partnership. Dalio will remain an informal, unpaid adviser to both the fund and Indonesian President Prabowo Subianto.
'I remain a strong supporter of Danantara Indonesia's mission,' Dalio said. 'My commitment to advise its leadership and President Prabowo remains unchanged – informal, voluntary and unpaid.'
His comments followed media reports suggesting that he may have distanced himself from the fund amid ongoing restructuring within Indonesia's investment ecosystem.
While unconfirmed, the speculation had stirred questions about Danantara's strategic direction and international credibility, underscoring the weight of Dalio's involvement in lending confidence to the relatively young institution.
Since its inception in February 2025, Danantara – tasked with mobilising long-term investments into priority sectors such as infrastructure, renewable energy and digital transformation – has drawn on Dalio's strategic insights to help shape its institutional vision and global positioning.
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'His advice has been instrumental in shaping our direction as a sovereign investment institution,' the fund said in the statement. 'We continue to value his guidance in our pursuit of sustainable economic growth.'
Danantara reiterated that Dalio's role is advisory and non-executive, with no formal contract or compensation – mirroring his engagements with other governments and philanthropic organisations.
Dalio was appointed as an adviser to Danantara alongside a distinguished group of figures, including the former Thai prime minister Thaksin Shinawatra; former UK prime minister Tony Blair; and Helman Sitohang, former CEO of Credit Suisse Asia-Pacific.
Speaking at the fund's launch ceremony in February, Danantara's chief investment officer Pandu Sjahrir highlighted that this advisory team will play a crucial role in guiding the fund through the challenges posed by increased financial volatility and geopolitical uncertainties on the global stage.
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