Danantara Completes Takeover of Four Himbara-Owned Investment Managers

PT Danantara Asset Management (DAM) has officially taken over control of four state-owned enterprise (BUMN) investment manager companies with total assets under management (AUM) reaching more than Rp170 trillion. The four companies included in the consolidation are PT Mandiri Manajemen Investasi (MMI), PT BRI Manajemen Investasi (BRI MI), PT BNI Asset Management (BNI AM), and PT PNM Investment Management (PNM IM). DAM signed a Share Purchase Agreement (SPA) for the four companies on 22 July 2026. According to DAM, the four companies collectively recorded AUM of more than Rp170 trillion as of June 2026. This consolidation will combine the experience, distribution networks, investment capabilities, and investor bases of each company to enhance the competitiveness of Indonesia’s investment management industry. Danantara Indonesia Chief Operating Officer Dony Oskaria said the takeover is not merely a share purchase transaction, but a strategic step to build new strength in the national investment management industry. “This is a major step to strengthen the national investment management industry. These four companies have strong experience, networks, and capabilities, and collectively manage funds of more than Rp170 trillion,” Dony said in a statement on Thursday (23/7/2026). He said the four investment management companies will merge within the next month to become the largest asset management company in Indonesia. The process is part of the streamlining efforts undertaken by Danantara Indonesia. In terms of AUM contribution, MMI recorded consolidated AUM with Mandiri Investment Singapore of Rp77.86 trillion as of June 2026. Meanwhile, BRI MI recorded AUM of Rp52.61 trillion, BNI AM of Rp29.59 trillion, and PNM IM of Rp10.31 trillion. Mandiri Manajemen Investasi President Director Hardiyanto Pilia said the consolidation is a strategic step to build a national investment management institution with greater scale, capabilities, and governance. “This consolidation is a strategic step to build a national investment management institution with increasingly strong scale, capabilities, and governance,” Hardiyanto said. Meanwhile, DAM assesses that the consolidated company will be able to expand investment access for both retail and institutional investors. In the retail segment, the new entity will develop thematic investment products and expand access through the Himbara bank network, in line with the growth of the national Single Investor Identification (SID) number which has surpassed 20 million investors.