Digging into Rp2.7 Trillion, Danantara Buys Up State-Owned Banks' Investment Managers - KabarBursa.com

The Investment Management Agency (BPI) Daya Anagata Nusantara (Danantara) has undertaken a major consolidation step in the asset management industry by acquiring four investment management companies (MI) owned by state-owned banks. The total value of this corporate action amounts to approximately Rp2.7 trillion.

Citing disclosures from the Indonesia Stock Exchange (BEI), the acquisition was carried out through its subsidiary, PT Danantara Asset Management (DAM), which signed conditional share purchase agreements with several state-owned banks.

The largest acquisition was of PT Mandiri Manajer Investasi (MMI), previously owned by PT Mandiri Sekuritas, a subsidiary of PT Bank Mandiri (Persero) Tbk. Danantara allocated Rp1 trillion to take over 1,499 shares, equivalent to 99.93% ownership, effective 1 April 2026.

Additionally, Danantara acquired PT BNI Asset Management (BNI AM) from PT BNI Sekuritas, a subsidiary of PT Bank Negara Indonesia (Persero) Tbk. The transaction was valued at Rp359.64 billion for 99.9% of shares.

A similar step was taken with PT BRI Manajemen Investasi (BRI MI), where Danantara purchased 65% of shares, approximately 19.5 million shares, for Rp975 billion.

Meanwhile, PT PNM Investment Management (PNM IM) was also acquired from PT Permodalan Nasional Madani (PNM). Danantara took nearly all of the company’s shares, namely 99.999%, in a transaction valued at Rp345 billion.

Danantara’s Chief Investment Officer (CIO), Pandu Sjahrir, described this action as part of a restructuring strategy to streamline and expand the capacity of the investment management industry under BUMN.

“This is part of Danantara’s efforts to streamline the structure and strengthen the institution. One way is by merging companies with similar business lines,” said Pandu during the Indonesia Outlook event on the Role of National Economic Drivers at Menara Bank Mega, Jakarta, on Tuesday, 7 April 2026.

According to him, the existence of numerous investment managers with similar functions has previously posed risks of inefficiency. Through consolidation, asset management is expected to become more integrated and possess stronger competitiveness, both in domestic and global markets.

This step also marks a shift in the strategy of BUMN in the financial sector towards a more consolidated holding model, in line with the government’s push to enhance economies of scale and the effectiveness of state investment management.