TEMPO.CO, Jakarta - Danantara Indonesia, through PT Danantara Asset Management, has signed a share purchase agreement to acquire stakes in four state-owned investment management firms: PT Mandiri Manajemen Investasi, PT BRI Manajemen Investasi, PT BNI Asset Management, and PT PNM Investment Management.
The transaction will transfer control of the four asset managers to Danantara, which collectively oversee more than Rp170 trillion (around US$10.5 billion) in assets under management (AUM) as of June 2026.
Danantara to Consolidate Asset Managers
Danantara Chief Operating Officer Dony Oskaria said the acquisition is not merely a share purchase transaction but part of efforts to strengthen Indonesia's investment management industry.
"These four companies have strong experience, networks, and capabilities, collectively managing funds of more than Rp170 trillion," Dony said, as quoted by Antara on Thursday, July 23, 2026.
Danantara said the consolidation will focus on strengthening business strategies and governance to support growth, competitiveness, and long-term value creation.
Dony said the four asset management companies are expected to merge into Indonesia's largest asset management firm within a month as part of Danantara's broader streamlining initiative.
"Through an integrated business model, the consolidated company will expand investment access for retail and institutional investors while providing more competitive investment solutions to meet market needs," he said.
Expanding Investment Access
PT Mandiri Manajemen Investasi CEO Hardiyanto Pilia said the consolidation provides a strong foundation for the new entity to grow into one of Indonesia's leading investment management companies.
"We are optimistic that Indonesia's investment management industry will become more competitive and strengthen investor confidence, both domestically and globally," Hardiyanto said.
For retail investors, the consolidated company plans to develop thematic investment products and expand access through the network of Himbara, Indonesia's state-owned banks. The move comes as the number of Single Investor Identification (SID) holders in Indonesia has surpassed 20 million.
For institutional investors, the company aims to strengthen its investment management capabilities by broadening its investor base and offering more comprehensive investment solutions for domestic institutions.
"We see strong momentum ahead. With a growing retail investor base and rising institutional confidence, the synergy of these four entities will make the consolidated company a preferred investment partner for millions of Indonesians," Hardiyanto said.
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