Danareksa Aims to Become Indonesia's Second-Largest Asset Manager
Jakarta, CNBC Indonesia — The Ministry of State-Owned Enterprises (BUMN) and Danantara have officially begun a major restructuring of PT Danareksa (Persero). The company, which previously operated as a cross-sector BUMN holding, will be returned to its core function (khitah) as a pure and competitive asset management entity.
This step is marked by the separation (spin-off) of various subsidiaries that are not aligned with the core asset management business. Key points in this transformation include cross-sector consolidation. Business units such as industrial estates, construction (works), and finance, which have been under Danareksa’s umbrella, will be released and consolidated into their respective sectoral holdings.
The Head of BUMN, also COO of Danantara, Dony Oskaria, emphasised that the process of releasing Danareksa’s subsidiaries is scheduled to be fully completed by mid-next month. The official announcement regarding the consolidation results is targeted for 10 May.
“So, Danareksa will become an asset management company. Returning to its khitah. From the merger of the four, as you can see, there are four of our BUMN asset management companies, which will become Danareksa,” said Dony to reporters on Thursday (30/4/2026).
By shifting the business model from a multi-sector holding to a focused asset management company, the Government hopes Danareksa can operate more efficiently, strongly, and capable of optimising the value of state assets more professionally.
Post-consolidation, Danareksa is predicted to manage very significant funds. This is because the Investment Managers (MI) of the State-Owned Banks Group (Himbara) will be consolidated into one under Danareksa’s umbrella.
With the integration of Himbara’s MI, the total managed funds are projected to reach Rp185 trillion. This transformation is projected to catapult Danareksa’s position as the second-largest asset management company in Indonesia.
“It (Danareksa) will no longer be a holding. But it will merge into one strong company, and it will become the second-largest asset management. As an illustration, the managed funds of Himbara’s MI currently reach Rp185 trillion,” said Dony.
By shifting the business model from a multi-sector holding to a focused asset management company, the Government hopes Danareksa can operate more efficiently, strongly, and capable of optimising the value of state assets more professionally.