Dalio Won’t Join Indonesia Wealth Fund Danantara as Adviser

Ray Dalio won’t be an adviser to Indonesia’s new sovereign wealth fund Danantara, people familiar with the matter said, just two months after officials announced the billionaire’s involvement.

The founder of Bridgewater Associates opted not to be on Danantara’s advisory board even as the fund publicly touted his appointment along with four other prominent business and political leaders in March, said the people, asking not to be identified discussing a private matter. The reason wasn’t immediately clear.