Danareksa Restructured into Investment Manager, Targeting Rp 185 Trillion in Assets Under Management
JAKARTA – The State-Owned Enterprises Management Agency (BP BUMN) together with Danantara has begun restructuring PT Danareksa (Persero). This step is aimed at transforming Danareksa into an asset management company with a target of managing funds up to Rp 185 trillion.
The Head of BP BUMN and Chief Operating Officer (COO) of Danantara Indonesia, Dony Oskaria, stated that the transformation will end Danareksa’s role as a multi-sector holding. Going forward, the company will focus on its core business as an investment manager.
“It (Danareksa) will no longer be a holding. But it will merge into one strong company, and that will become the second-largest asset management. For illustration, the assets under management of Himbara’s investment managers currently reach Rp 185 trillion,” Dony said in an official statement on Thursday (30/4/2026).
In addition, the transformation also includes the merger of several state-owned investment managers (MI). Four state-owned MIs will be consolidated into Danareksa to strengthen its fund management capacity.
“From the merger of the four state-owned asset management companies, all will become part of Danareksa,” Dony said.
The process of divesting subsidiaries is targeted to be completed by mid-next month, while the official announcement of the consolidation results is scheduled for 10 May.
After the integration of the investment managers of the State-Owned Banks Association (Himbara), Danareksa’s total assets under management are projected to reach Rp 185 trillion. This value has the potential to propel Danareksa to become Indonesia’s second-largest asset management company.
As part of the comprehensive restructuring of SOEs, the government is also continuing the streamlining programme for red-plate companies.
Dony revealed that 167 SOEs have been closed or liquidated in the past year.
“The total that have been liquidated up to today is around 167 companies,” Dony said when met in Jakarta on Tuesday (28/4/2026).
According to him, this policy aims to refocus SOEs on their core businesses while improving business process efficiency.
He emphasised that the streamlining will not impact employee terminations.
“This streamlining is intended for 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 achieving efficiency in the company’s business processes, not on the employee side,” he said.
Going forward, the SOE consolidation process will continue and cover various sectors, from construction, logistics, asset management, securities, hospitality, cement industry, to insurance.
“So we will execute all of them. Because it is indeed the deadline from the President. The sooner we can complete it, the better,” Dony concluded.