Danantara Begins Merger of Four State-Owned Investment Firms

Danantara Indonesia, through PT Danantara Asset Management, is set to consolidate four state-owned investment management firms: PT Mandiri Manajemen Investasi, PT BRI Manajemen Investasi, PT BNI Asset Management, and PT PNM Investment Management. This strategic move involves Danantara acquiring stakes in these firms, transferring control to create a larger, more integrated asset management entity.

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These four companies have strong experience, networks, and capabilities, collectively managing funds of more than Rp170 trillion.

Collectively, these four companies manage over Rp170 trillion (approximately US$10.5 billion) in assets under management as of June 2026. Danantara COO Dony Oskaria stated that the acquisition is more than a financial transaction; it's an effort to bolster Indonesia's investment management sector. He highlighted the combined experience, networks, and capabilities of the four firms as a strong foundation for growth and long-term value creation.

The consolidation is expected to be completed within a month, forming what is anticipated to be Indonesia's largest asset management firm. The integrated business model will focus on strengthening strategies and governance to boost competitiveness. This aims to expand investment access for both retail and institutional investors by offering more competitive solutions tailored to market needs.

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We are optimistic that Indonesia's investment management industry will become more competitive and strengthen investor confidence, both domestically and globally.

Hardiyanto Pilia, CEO of PT Mandiri Manajemen Investasi, expressed optimism about the merger, believing it will create a leading investment management company in Indonesia and enhance investor confidence globally. For retail investors, the new entity plans to develop thematic investment products and leverage the network of Indonesia's state-owned banks. For institutional investors, the focus will be on enhancing investment management capabilities and broadening the investor base. This consolidation occurs as Indonesia's Single Investor Identification (SID) holders surpass 20 million.

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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.