BRI Offloads Investment Management Business to Danantara to Strengthen National Financial Ecosystem
JAKARTA - Restructuring within state-owned enterprises (SOEs) is once again underway as part of efforts to strengthen the national financial industry.
One of the latest steps comes from PT Bank Rakyat Indonesia (Persero) Tbk, which has decided to divest its investment management business to PT Danantara Asset Management. This policy is seen as part of the government’s broader strategy to consolidate the investment management sector.
Through this move, BRI is transferring ownership of its subsidiaries and sub-subsidiaries engaged in investment management. The two companies are PT BRI Manajemen Investasi (BRI-MI) and PT PNM Investment Management (PNM-IM).
This transfer process is being carried out to PT Danantara Asset Management (DAM), which will serve as the asset management entity in a new, more integrated ecosystem.
This strategic step not only relates to internal company restructuring but also forms part of the effort to establish a stronger and more competitive national investment management company.
With this consolidation, investment management within the SOE ecosystem is expected to become more coordinated and capable of generating greater economic value.
SOE Investment Manager Consolidation Strategy
Bank Rakyat Indonesia Tbk (BBRI) is taking a strategic step by transferring ownership of its subsidiaries and sub-subsidiaries in investment management, namely PT BRI Manajemen Investasi (BRI-MI) and PT PNM Investment Management (PNM-IM), to PT Danantara Asset Management (DAM).
This step is part of the consolidation strategy being implemented by Danantara in the national investment management sector.
This is stated in the Company’s Information Disclosure issued on 2 April 2026, with the transaction conducted through the signing of a Conditional Share Purchase Agreement (PJBB) on 1 April 2026.
BRI Corporate Secretary Dhanny stated that the transfer of ownership of BRI-MI and PNM-IM is part of consolidation efforts within the state-owned enterprise (SOE) ecosystem.
“This initiative is designed to support the formation of a more integrated, adaptive, and competitive asset management company, capable of generating economic and social value in line with Indonesia’s long-term agenda,” he said in a press release on Friday (10/4/2026).
Details of the Share Transfer Transaction
In the transaction, PT Bank Rakyat Indonesia (Persero) Tbk and PT Danantara Asset Management (DAM) have signed a Conditional Share Purchase Agreement (PJBB) for the planned purchase of 19,500,000 BRI MI shares owned by BRI, resulting in the takeover of BRI MI.
The value of the BRI MI share transfer transaction is Rp975 billion for 19.5 million shares. This number of shares is equivalent to 65% of the total placed and paid-up capital of BRI-MI.
Meanwhile, PT Permodalan Nasional Madani (PNM), as a BRI-controlled company, has signed a Conditional Share Purchase Agreement (PJBB) with PT Danantara Asset Management for the planned purchase of 109,999 PNM-IM shares owned by PNM, resulting in the takeover of PNM-IM.
The 109,999 shares are equivalent to 99.999% of the total placed and paid-up capital issued by PNM-IM. The transaction value is Rp345 billion.
This takeover step is part of the investment management business integration process, expected to strengthen the national asset management industry structure.
Target of Forming a Competitive Asset Management Company
PT Danantara Asset Management (DAM), as the operational holding, intends to create an asset management company that will become a champion with strong competitiveness through product and service innovation, thereby providing optimal added value for all stakeholders.
This affiliated transaction is expected to increase business synergy potential and complement existing capabilities, thus providing broader and more optimal benefits.
With the merger of various investment management entities into one ecosystem, the company is expected to develop more innovative investment products while improving operational efficiency.
Additionally, this consolidation is believed to strengthen the position of the national asset management industry to be more competitive at both regional and global levels.
Regulatory Compliance and Expectations for Strengthening the Financial Industry
Regarding governance, the execution of the transaction refers to applicable legal regulations, particularly Financial Services Authority Regulation No. 42/POJK.04/2020 on Affiliated Transactions and Conflict of Interest Transactions.
As an investment manager, the entity conducts business activities in the form of managing securities portfolios for client interests and/or managing collective investment portfolios for a group of clients.
These activities do not include managing insurance company funds, pension funds, or banks that manage their own investments in accordance with legal regulations.
According to Dhanny, this consolidation step is expected to have a positive impact not only for the company and shareholders but also for the overall development of the national financial industry.
“Going forward, this step is expected not only to benefit the company and shareholders but also to contribute to strengthening the national financial industry ecosystem and creating sustainable economic and social value,” Dhanny concluded.
Through this integration process, the investment management sector is expected to develop more solidly and support the national economic development agenda in the long term.