Indonesia to Send $20 Billion to Newly Created Investment Agency

A sweeping overhaul of how Indonesia runs its powerful state companies will create a multibillion-dollar investment vehicle run by close allies of President Prabowo Subianto, giving the new leader a major cache of funds to deploy in his effort to supercharge growth in Southeast Asia’s largest economy.

Investment Minister Rosan Perkasa Roeslani, a prominent businessman who last year led Prabowo’s campaign run in the world’s fourth most populous nation, will lead Danantara, a new state-run investment agency that will take over the management of Indonesia’s dozens of state-owned enterprises.