Four State-Owned Asset Management Firms Merge

The Danantara Investment Management Agency (BPI Danantara) is merging four state-owned asset management companies. The four companies involved are PNM Investment Management, BNI Asset Management, Mandiri Manajemen Investasi (the surviving entity), and BRI Manajemen Investasi.

The decision to merge was made during a meeting on Tuesday (7/7/2026), attended by the CEO of Danantara and Minister of Investment and Downstreaming/Head of BKPM, Rosan Roeslani; the COO of Danantara and Head of BP BUMN, Dony Oskaria; and the CIO of Danantara, Pandu Sjahrir.

In a written statement, Dony Oskaria explained that the merger is part of an effort to build a more integrated, efficient, and professional asset management platform to optimise the value of state assets.

Through this merger, Danantara will possess the largest asset management company in Indonesia, capable of integrating asset portfolios, strengthening capabilities and governance, increasing management efficiency, and enhancing investment attractiveness.

This consolidation is also expected to optimise the utilisation of state assets, thereby providing added value and a greater economic contribution to national development.

“Streamlining is not the end goal. The most important thing is how the restructured SOE assets can be managed more optimally, more productively, and truly create added value for the country,” said Dony.

By forming the largest asset management company in Indonesia, Danantara reaffirms its commitment to building a state asset management system that is more integrated, professional, and value-oriented.

This step is expected to increase the productivity of SOE assets, strengthen investor confidence, and provide a larger contribution to national economic growth.