Danantara reportedly looking to set up Hong Kong branch office
Indonesia's state asset fund Danantara is moving to establish a physical presence in Hong Kong as part of its strategy to expand investment operations in the Greater China region, according to a Bloomberg report published Tuesday.
The fund has registered holding and finance subsidiaries in the Chinese special administrative region, incorporated on March 23 under the name Danantara Investment Holding Hong Kong, according to registry records cited by the news agency.
Bloomberg reported that Danantara is actively recruiting investment professionals for the Hong Kong office while searching for suitable premises. Sources familiar with the matter indicated that Hong Kong-based executive Sisi Liu would lead Greater China and North Asia investments for the fund, with her LinkedIn profile listing focus areas including artificial intelligence, robotics and advanced manufacturing.
Danantara representatives were not immediately available to confirm the report, and the fund has not issued an official statement on the Hong Kong expansion.
Strategic positioning
The move positions Danantara to tap into Hong Kong's established infrastructure as a major Asian financial center. The city hosts numerous sovereign wealth funds, including China's SAFE Investment Company which manages US$2.047 trillion as of September 2026, and offers specialized regulatory frameworks for such investment vehicles.
China has emerged as one of Indonesia's largest sources of foreign investment, contributing $3.9 billion in foreign direct investment during the first half of 2026, particularly in nickel processing and minerals sectors. A Hong Kong office could facilitate deeper investment partnerships between Indonesian and Chinese entities.
Danantara currently manages assets worth approximately $900 billion, according to government figures. The fund was officially established on February 24, 2025, when President Prabowo Subianto launched Indonesia's second sovereign wealth fund, following the Indonesia Investment Authority created in 2021.
Modeled after Singapore's Temasek Holdings, Danantara was designed to consolidate and optimize Indonesia's state-owned enterprise assets. The fund's initial portfolio includes seven major state-owned enterprises: Bank Mandiri, Bank BRI, Bank BNI, Telkom Indonesia, PLN, Pertamina, and MIND ID.
Investment mandate
Unlike the Indonesia Investment Authority, which focuses on asset management and co-investments, Danantara holds direct authority over state-owned enterprises including powers for capital allocation, restructuring and mergers. This broader mandate was established through Law No. 1 of 2025, which amended Indonesia's State-Owned Enterprises Law.
The fund operates with an initial investment budget of $20 billion, targeting high-impact projects in critical minerals, renewable energy, artificial intelligence and food production. These priorities align with President Prabowo's goal of achieving 8 percent annual GDP growth by 2029.
Danantara has set an ambitious target to expand its asset base to $982 billion by 2029, which would position it as the fourth-largest sovereign wealth fund globally, comparable in scale to Norway's Government Pension Fund Global and the Abu Dhabi Investment Authority.
The fund's leadership team, established in early 2025, includes CEO Rosan Roeslani, Chief Investment Officer Pandu Patria Sjahrir, and Chief Operating Officer Dony Oskaria.
