JAKARTA – PT Danantara Asset Management (DAM) has officially acquired four state-owned investment management companies as part of its strategy to consolidate Indonesia’s asset management industry. The move is expected to create the country’s largest investment management company, with more than Rp170 trillion in assets under management (AUM).

The four companies acquired are PT Mandiri Manajemen Investasi, PT BRI Manajemen Investasi, PT BNI Asset Management, and PT PNM Investment Management. The acquisition was formalized through the signing of a Share Purchase Agreement (SPA) on July 22, 2026.

Danantara Indonesia Chief Operating Officer Dony Oskaria said the acquisition is part of the government’s broader strategy to streamline the structure of state-owned enterprises (SOEs) while strengthening Indonesia’s investment management industry. According to him, the four entities will be merged into a single company within approximately one month.

“This is not merely a corporate merger, but the establishment of a stronger, more efficient, and more competitive national investment platform,” Dony said.

Once the integration process is completed, the merged company will manage assets exceeding Rp170 trillion, making it the largest investment management company in Indonesia. The new entity will also expand its range of investment products for both retail and institutional investors by leveraging the distribution networks of Indonesia’s state-owned banking group (Himbara).

The acquisition is part of Danantara’s broader restructuring agenda, which aims to streamline approximately 1,000 SOE entities into around 200 entities. The government expects the consolidation to improve operational efficiency, strengthen corporate governance, and optimize the management of state-owned assets.