Danantara Takes Over Four State-Owned Investment Managers with Total AUM of IDR 170 Trillion
Danantara Indonesia, through PT Danantara Asset Management (DAM), has officially signed a Share Purchase Agreement (SPA) covering the shares of PT Mandiri Manajemen Investasi (MMI), PT BRI Manajemen Investasi (BRI MI), PT BNI Asset Management (BNI AM), and PT PNM Investment Management (PNM IM).
The signing marks the transfer of control of the four state-owned investment managers to DAM, which collectively recorded assets under management (AUM) of more than Rp170 trillion as of June 2026.
Danantara Indonesia Chief Operating Officer Dony Oskaria said in an official statement in Jakarta on Thursday that the takeover of control was not merely a share purchase transaction, but a major step towards building a new force 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 more than Rp170 trillion in funds,” said Dony.
Danantara assured that all of this strength would be directed through improved strategy and governance so that the firms can grow stronger, become more competitive, and deliver greater added value to the Indonesian economy.
“Within the next month, these four asset management companies will merge into a single company, the largest asset manager in Indonesia. This process is part of the streamlining currently being carried out by Danantara Indonesia,” said Dony.
With an integrated business model, Dony explained that the consolidated company would widen investment access for both retail and institutional investors, while offering increasingly competitive investment solutions to meet the needs of a growing market.
“In line with this strategic direction, the consolidated company will combine the strengths, experience and advantages of each investment manager to build an institution with greater scale, capability and competitiveness,” said Dony.
Hardiyanto Pilia, President Director of PT Mandiri Manajemen Investasi, said this foundation would be important capital for the new entity to grow into one of Indonesia’s leading investment management companies.
“This consolidation is a strategic step towards building a national investment management institution with increasingly strong scale, capability and governance. With this foundation, we are optimistic that Indonesia’s investment management industry will become more competitive and able to strengthen investor confidence, both domestically and globally,” said Hardiyanto.
In the retail segment, the consolidated company will develop thematic investment products and expand investment access through the Himbara banking network, in line with the growth of national Single Investor Identification (SID) holders, which has surpassed 20 million investors.
Meanwhile, in the institutional segment, the company will strengthen its investment management capabilities by broadening its investor base and providing more comprehensive investment solutions for a range of domestic institutions.
“We see enormous momentum ahead. With a growing retail investor base and strengthening institutional confidence, the synergy of these four entities will make the consolidated company the investment partner of choice for millions of Indonesians,” said Hardiyanto.
Arief Budiman, President Director of PT BRI Manajemen Investasi, described the merger as a strategic moment to deepen retail market penetration.
As of June 2026, BRI MI recorded total AUM of Rp52.61 trillion, with a strong retail customer base serving as important capital in strengthening the ecosystem of the consolidated company.
“With the strength of our distribution network and a growing retail investor base, this merger will widen public access to trusted investment products while accelerating the deepening of the capital market,” said Arief.
Ari Adil, President Director of PT BNI Asset Management, emphasised that BNI AM’s balanced business composition between retail and institutional segments, with AUM of Rp29.59 trillion as of June 2026, would be one of the key strengths reinforcing the capabilities of the consolidated company.
“We are optimistic that this merger will strengthen national investment management capacity through synergies in investment expertise, product innovation, stronger governance, and an increasingly solid and competitive business scale,” he said.
Ade Santoso Djajanegara, President Director of PT PNM Investment Management, affirmed that PNM IM’s experience in developing inclusive investment, with AUM of Rp10.31 trillion as of June 2026, would complement the consolidated company’s strength in widening access to investment services for the public.
“This collaboration is an important step towards building an investment management institution that is not only stronger in business terms, but also able to extend economic benefits and drive more sustainable growth,” said Ade.
Through a phased integration process that continues to prioritise prudential principles, regulatory compliance, and continuity of service for customers and all business partners, DAM is optimistic it can build a national investment management institution that is increasingly competitive and trusted, and capable of becoming one of the main drivers of growth in Indonesia’s capital market.