PT Danantara Asset Management (DAM) has officially signed a share purchase agreement (SPA) for shares in PT Mandiri Manajemen Investasi (MMI), PT BRI Manajemen Investasi (BRI MI), PT BNI Asset Management (BNI AM), and PT PNM Investment Management (PNM IM) on Wednesday.
The signing marks the transfer of control of the four state-owned investment management companies to DAM. This strategic step demonstrates DAM’s commitment to strengthening the foundation of Indonesia’s investment management industry and enhancing its competitiveness on the global stage, DAM said in a statement on Thursday.
Collectively, the four companies recorded assets under management (AUM) of more than IDR 170 trillion ($9.43 billion) as of June 2026.
This scale of AUM, supported by the experience, distribution networks, investment capabilities, and investor bases of each company, represents an important opportunity to expand public access to investment products while enhancing the competitiveness of Indonesia’s investment management industry.
Chief Operating Officer of Danantara Indonesia, Dony Oskaria, said that the acquisition of control over the four companies is not merely a share purchase transaction, but a major step toward building a new force in the national investment management industry.
He said this is a major step to strengthen Indonesia’s investment management industry as these four companies have strong experience, networks, and capabilities, and collectively manage more than IDR 170 trillion in assets.
“Danantara Indonesia will ensure that all these strengths are directed through enhanced strategy and governance so that they can be more robust, more competitive, and deliver greater added value to Indonesia’s economy,
“Within the next month, these four asset management companies will merge into a single entity, becoming the largest in Indonesia. This process is part of the streamlining efforts currently being carried out by Danantara Indonesia,” he added.
With an integrated business model, the consolidated company will expand investment access for both retail and institutional investors, while offering more competitive investment solutions to address the evolving needs of the market.
In line with this strategic direction, the consolidated company will combine the strengths, experience, and advantages of each investment management company to build an institution with greater scale, capabilities, and competitiveness.
President Director of PT Mandiri Manajemen Investasi, Hardiyanto Pilia, said that this foundation will serve as important capital for the new entity to grow into one of Indonesia’s leading investment management companies.
“This consolidation is a strategic step to build a national investment management institution with greater scale, capabilities, and governance. With this foundation, we are optimistic that Indonesia’s investment management industry will become increasingly competitive and further strengthen investor confidence, both domestically and globally,” he added.
In the retail segment, the consolidated company will develop thematic investment products and expand investment access through the state-owned bank (Himbara) network, in line with the growth of national Single Investor Identification (SID), which has exceeded 20 million investors.
Meanwhile, in the institutional segment, the company will strengthen investment management capabilities by expanding its investor base and providing more comprehensive investment solutions for various domestic institutions.
“We see significant momentum ahead. With a growing retail investor base and stronger institutional confidence, the synergy of these four entities will position the consolidated company as the investment partner of choice for millions of Indonesians,” said Hardiyanto.
President Director of PT BRI Manajemen Investasi, Arief Budiman, described the merger as a strategic momentum to deepen retail market penetration.
As of June 2026, BRI MI recorded total AUM of IDR 52.61 trillion, with a strong retail customer base that will serve as important capital in strengthening the ecosystem of the consolidated company.
“With the strength of its distribution network and a continuously growing retail investor base, this merger will expand public access to trusted investment products while accelerating the deepening of the capital market,” he said.
President Director of PT BNI Asset Management, Ari Adil, emphasized that BNI AM’s strong business composition between retail and institutional segments, with AUM of IDR 29.59 trillion as of June 2026, will become one of the key strengths in enhancing the capabilities of the consolidated company.
“We are optimistic that this merger will strengthen national investment management capacity through synergies in investment expertise, product innovation, stronger governance, and increasingly solid and competitive business scale,” he added.
President Director of PT PNM Investment Management, Ade Santoso Djajanegara, stated that PNM IM’s experience in developing inclusive investment, with AUM of IDR 10.31 trillion as of June 2026, will complement the strengths of the consolidated company in expanding access to investment services for the public.
“This collaboration is an important step to build an investment management institution that is not only stronger as a business, but also able to broaden economic benefits and support more sustainable growth,” he added.
The signing of this agreement marks an important milestone in advancing Indonesia’s investment management industry.
Through an integration process that will be carried out in stages while prioritizing prudence, regulatory compliance, and service continuity for customers and all business partners, DAM said it is optimistic that it can build a national investment management institution that is more competitive, trusted, and able to become one of the key drivers of Indonesia’s capital market growth.
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