Transformation to Make Danareksa an Asset Management Giant, the Second Largest in Indonesia
Jakarta, TopBusiness – The Ministry of State-Owned Enterprises (BP BUMN) and Danantara have officially begun major restructuring efforts for PT Danareksa (Persero). The company, which previously operated as a cross-sector BUMN holding, will be returned to its primary 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 business of asset management. Key points in this transformation include spin-offs and cross-sector consolidation. Business units such as industrial zones, construction (works), clearing houses, and financial services, which have been under Danareksa’s umbrella, will be released and consolidated into their respective sectoral holdings in line with their core competencies.
The Head of BP BUMN and COO of Danantara, Dony Oskaria, emphasised that the process of releasing Danareksa’s subsidiaries is scheduled to be fully completed in mid-next month. The official announcement regarding the results of this consolidation is targeted for 10 May.
“So, Danareksa will become an asset management company. Returning to its khitah. So, from the merger of the four, as you can see, there are four 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 professionally optimise the value of state assets.
Post-consolidation, Danareksa is projected to manage highly significant funds. This is because the Investment Managers (MI) of the State-Owned Banks Association (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 expected to propel 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 focused, efficiently, strongly, and professionally optimise the value of state assets.