Danantara Restructures Danareksa into Rp 185 Trillion Asset Manager - Babel Insight
The State-Owned Enterprises Management Agency (BP BUMN), together with Danantara, has officially begun the restructuring process of PT Danareksa (Persero) to reposition it as an asset management company. This transformation aims to achieve total assets under management of Rp 185 trillion through the consolidation of several state-owned investment managers.
According to Money, Dony Oskaria, Head of BP BUMN and Chief Operating Officer (COO) of Danantara Indonesia, explained that this step marks the end of Danareksa’s role as a multi-sector holding. Going forward, the entity will focus entirely on professional investment management business.
“It (Danareksa) will no longer be a holding. But it will merge into one strong company that will become the second largest asset management. As an illustration, the assets under management of Himbara’s investment managers currently reach Rp 185 trillion,” said Dony Oskaria, Head of BP BUMN, on Thursday (30/4/2026).
This structural change involves the separation or spin-off of business units unrelated to asset management, such as construction, industrial estates, and other financial services. These units will subsequently be transferred to relevant sectoral holdings.
In addition to the separation of units, Danareksa’s capacity will be strengthened through the consolidation of four state-owned investment management companies. This integration is expected to boost the efficiency of state asset management in the capital market.
“From the merger of the four BUMN asset management companies, all will become part of Danareksa,” said Dony Oskaria, Head of BP BUMN.
The target completion for the divestment of subsidiaries is scheduled for mid-May 2026. Meanwhile, the official announcement regarding the consolidation results of the four investment managers is planned for 10 May.
In a separate occasion in Jakarta on Tuesday (28/4/2026), Dony also outlined the progress of massively simplifying the number of red-plate companies. The government has liquidated 167 SOE entities over the past year as part of a business bureaucracy efficiency strategy.
“The total that has been liquidated up to today is around 167 companies,” said Dony Oskaria, Head of BP BUMN.
This streamlining policy aims to reduce the total number of SOEs along with their subsidiaries and affiliates from the original 1,100 entities to just 257 companies. Dony emphasised that this efficiency process will not target workforce reductions or mass layoffs.
“This streamlining is aimed at the employees. So no need to worry, everything is done with good intentions. No need to worry about employees, because employees will not be laid off. This is a process of efficiency for the companies on the business process side, not on the employee side,” said Dony Oskaria, Head of BP BUMN.
The integration of the State-Owned Banks (Himbara) investment managers is projected to position Danareksa as the second largest player in the national asset management industry. This consolidation agenda will also be expanded to other strategic sectors such as insurance, hospitality, and cement industry.
“So we will execute everything. Because it is indeed the deadline from the President. The sooner we can complete it, the better,” concluded Dony Oskaria, Head of BP BUMN.