Danantara was established in the first quarter of 2025 as Indonesia's second sovereign wealth fund, and was seeded with stakes in seven state-owned enterprises. Global SWF has valued those stakes at US$ 172 billion, despite contradicting figures in media and government announcements. In the first month of operations, Danantara announced the hiring of several high-level executives, including the Deputy CEO and CIO of the country's other SWF, INA, and a US$ 4 billion co-investment partnership with Qatar.