Jakarta (ANTARA) – State-owned investment holding group Danantara Indonesia officially signed a Share Purchase Agreement (SPA) to acquire four state-owned investment management companies, marking the beginning of a major consolidation within the national capital market industry.The transaction, executed through subsidiary PT Danantara Asset Management (DAM), transfers control of PT Mandiri Manajemen Investasi (MMI), PT BRI Manajemen Investasi (BRI MI), PT BNI Asset Management (BNI AM), and PT PNM Investment Management (PNM IM).As of June 2026, the four state-backed entities recorded combined assets under management (AUM) exceeding Rp170 trillion (US$10.5 billion).The acquisition serves as part of a broader government effort to streamline state-owned enterprises (SOEs) and enhance national financial sector competitiveness, according to Chief Operating Officer of Danantara Indonesia, Dony Oskaria.”Within the next month, these four asset management companies will merge to become one of the largest asset management entities in Indonesia,” Dony said in his statement on Thursday.“This is a major step to strengthen the national investment management industry… (and) part of the streamlining process being undertaken by Danantara Indonesia,” he added.Dony emphasized that the transaction goes beyond a simple transfer of shares, framing it as an operational restructuring aimed at enhancing corporate governance, scaling up capabilities, and driving national economic growth.He further noted that the consolidated entity will integrate the respective operational capabilities, distribution networks, and investment expertise of each firm under improved corporate governance standards.The portfolio breakdown of the four entities as of June 2026 highlights deeply complementary strengths across both retail and institutional investor segments.Mandiri Manajemen Investasi leads the institutional front, anchoring the group with an estimated Rp77.49 trillion (US$4.79 billion) in assets under management focused on large-scale portfolio management.On the retail side, BRI Manajemen Investasi brings massive distribution capabilities and retail market penetration, managing Rp52.61 trillion (US$3.25 billion).BNI Asset Management contributes a well-balanced portfolio mix across institutional and individual clients totaling Rp29.59 trillion (US$1.83 billion), while PNM Investment Management adds Rp10.31 trillion (US$637 million) centered on financial inclusion and sustainable micro-investment services.Following the merger, the consolidated institution plans to dramatically widen investment access for retail clients by tapping into the extensive distribution footprint of the State-Owned Banks Association (Himbara) network.This expansion aligns with a rapidly growing domestic market, allowing the unified firm to directly engage a national investor base that has now surpassed 20 million Single Investor Identification (SID) holders.To realize these strategic goals without market disruption, Danantara Asset Management confirmed that the integration will be executed in phases—prioritizing strict regulatory compliance, prudent risk management, and uninterrupted service for all existing clients and partners.